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If I were starting from scratch, I'd choose either one of the 750MC sportscar championships, or the BARC Mod-Prods. Both allow you to race on relatively small budgets, and allow room for development without going completely overboard with drastically modified machinery.
The 750MC Stock Hatch is a good starting point too, but it's proven not to be budget racing (if you want to be towards the front), with some iffy driving standards too, where plenty of innocent people have had their cars mangled at the hands of some eejots who think they have the "talent" of a BTCC/ETCC driver.
If you fancy your hand at construction, the 750MC Locost series is great for that.
One make stuff that's cheap(ish) - MAX5 - even the TVR Tasmin series!!
Rob.
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