Speed Racer is absolutely right-on about the Regent saddle. Your horse won't be happy with it. Which translates to: you won't be happy riding an unhappy horse.
You can find good saddles on a budget. You'll be looking for something used and probably an older model from the 70's or 80's. You might find something that looks quite worn, but if it's a well-made saddle that's been cared for and has a solid, straight tree, you and your horse will be happier than with a new, cheaply-made saddle.
Look for saddles made in the UK, Europe, US, Canada, or Australia. You can find some decent ones out of Argentina as well, but a lot of them aren't decent, so you need to be careful with those.
For some examples of what some of us have found, check this thread out: Looking for a saddle on a budget?