Welcome to the forum. Get a member's ride thread posted up with pictures if you're gonna stick around.
![party :party:](https://www.mk5golfgti.co.uk/forum/Smileys/newsmileys/party.gif)
They do have both. The chain is on the passenger side around the camshafts and stretches over time. Complete failure, I think, is rare if not impossible. Nothing to worry about until it starts making a racket or check if it's stretched using VCDS or OBDEleven.
I changed my timing belt nearly 3 years after buying the car putting the belt at about 7 years old including water pump. Cost me £300 to do myself including engine mount stretch bolts and OEM VW water pump.
The cam follower in the high pressure fuel pump is one of the first things I changed for about £50. If these fail, they chew up the intake cam lobe and you'll end up needing a new camshaft.
Don't forget about general servicing too.
Besides that, enjoy the car.
![happy2 :happy2:](https://www.mk5golfgti.co.uk/forum/Smileys/newsmileys/happy2.gif)