Hello!
I need your help one more time!
As I have posted in an older post I have completed two masters (both MSc) in psychology in not too prestigious universities (I received high 2:1 grade for both and I have also published one of my thesis). Additionally, I have just been offered a scholarship for an MRes in a really prestigious university (high position in rankings) with excellent professors within the field I am interested in (cognitive psychology). However, while the scholarship covers the tuition fees it does not cover some of the other basic costs (housing, food, e.t.c.).Therefore, I need to cover these expenses myself (I have some savings).On the other hand, though, I am really concerned about the necessity of the MRes. Is it worth to spend all my savings for a degree that may be needless to my goal (funded PhD)? Is it possible to be accepted into a funded PhD having only MSc and without prior conducting an MRes? And what about the university's reputation? Does it play a role? Thank you in advance.

I think you could get PhD funding without doing the MRes, since you already have done 2 masters. The publication is a very strong point, especially if it is in a quite well respected journal in your field.

I am not sure about the university reputation question. I'm sure someone else here will be able to give some insight to that.