It will be the agitator shaft bearing assembly.....I have exactly the same problem.......trouble is F&P dont want to touch them any more as they are over 20 years old and NZ laws only state 7 years backup necessary etc etc etc.
Point being that to somehow disassemble it all,take out the bearings,go to an engineering shop and get replacement bearings......the type numbers are always stamped on the side of the bearings.
It is probably cheaper and less messy to go out and buy a new or 2nd hand washing machine these days.
Peter
Peter Cox, April 2010