Unless you can change the engine yourself, or can get it done free of charge, it isn't worth it.
You will have to source a second hand engine, which you probably wont be able to test or hear running until you've gone to the expense of buying/shipping/fitting it, and it could be a wreck too. Even if it comes with a warranty (which will be more expensive) do you really want that much messing around? You will also have to get the cars paperwork all changed.
How much are you planning to spend buying car?
A quick look on the Autotrader website shows a lot of cars around the same age, 60k/80k miles, long MOT etc for £400-£600, even less if you dont mind tatty bodywork, scratches etc.
P.S., When you are getting insurance quotes, try putting your Mum down as a second driver.
This will usually reduce the premium and, as you are the main driver, you are still racking up your own no-claims discount for next year!
(Also means your Mum can drive your car, which is handy but means you'll have to keep it tidy and hide the evidence, you know what I mean!)
g.k., January 2010