Yeah broken timing belt is bad. My dad had an old Ford Escort RS many moons ago. The timing belt went on that. He was quoted more than the car was worth for a repair. Hopefully it only slipped and didnt snap completely. My dad had that happen to another Escort this one a turbo diesel. The belt slipped causing the oil pump to stop working which destroyed the turbo and the valves in the cylender head. It would have cost him a good £500 to be fixed had the car not been under warranty.

Best of luck to you. It'd be a shame to see you have to get rid of a car as nice as yours.