Head Gasket - Oil in coolant

HI all,



I took my MG Tf 2004 into a garage yesterday to have the clutch and cam belt replaced, only they rang me later saying my head gasket was on the way out as there was Oil in the coolant.



If I pay for the works to be done (recondition engine, HG, clutch, cam belt) which is quite expensive! Would the engine have any problems from Oil leaking into the water or is it on a case by case basis? There has been no overheating I noticed but im not mechanically minded,



Or would it be better just to cut my losses and say goodbye to me lovely TF :(



Thanks



Mike

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