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It won't be £300-400. Start thinking more like twice that. there is a bit more to the JTS than a TS. Also, if the head is off, you have the chance to do the obligatory decoke to inlet valves and ports. There should be no subsequent damage.

Parts cost will be about the initial hoped for cost.
Cylinder head gasket set £120
Timing belt kit £150
Engineering shop costs £100
Labour- say 10 hours £500
Consumables & fluids £50

When I looked at mine, it became obvious the valves needed to be removed before skimming the head. Prices have gone up for this sort of thing in the past couple of decades and newer cars will easily swallow £1500 in many cases (even for 1.6 TDCI/HDI engines as fitted to Peugeot, Citroen, Ford, Mazda & Volvo).
 

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Thank you all for the replys. The timing belt and water pump is a great shout. Reason the work will be so cheap is that the mechanic is a long time family friend btw.
Soon to be past tense.

Seriously though, remember about the balance shaft belt and possibly idler and tensioner. The decoke will probably release 30bhp and make the engine run sweeter and rev so much more freely. Make sure to use the correct timing tools as this is important to achieving good performance.

Check the auxilliary belt tensioner for spring, alignment and bearing wear. If necessary, get a new auxilliary drive belt. Finally, treating it to a sump-full of decent 10W/60 won't harm it either.

If all that is done right and it is as carboned as expected, you won't believe it's the same engine afterwards.
 
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