Im sure you can do it for a lot less by just repairing whats damaged. If we assume the most likely problem, big end bearing failure, is the only one then a crankshaft regrind plus new bearings and sundries will cost say 250 pounds. This will need time and patience as well as mechanical know how but I think this latter requirement can be learnt as you go along by following the workshop manual (Haynes is a bit limited).
Theres no better or satisfying way to learn although if you havent done any other engine jobs its a bit of a big first step and would be best tackled with a bit of assistance....