Yamaha 115hp for £800 is cheap for a reason. If it was just the water jacket gasket, they’d have repaired it themselves. Any engineer that says it’s fine to run but keep swapping out the oil sounds like a bodge.
The leg and lower gearbox alone is £500 if you fancy taking a punt.
Have a look at this one state-side. The water jacket cover quite a large area as it’s 4-cylinder, and this one is clean, probably fresh water.
https://www.ebay.co.uk/itm/126557849...xoCGH4QAvD_BwE
Bill Higham has a couple for sale, but in XL shaft.