Low Oil Pressure?

[Dm_26]

Cut a long story short, the timing belt snapped on the car about a year ago. I got that sorta with a skimmed head, new valves etc etc

Ever since, its never been the same as you would expect.
Lots of small rattles etc, generally at the top end of the rev range.

Slowly over time these have got louder and now happen all the time above 2.5k revs

Now only in the last week or so, at low revs the oil and stop light have been coming on, and flashing rapidly before going of if you give it a rev.
Its also using alot of oil. I am having to top it up at least once a month.

Anyone any idea what the problem could be or is it cut my losses time and get a new engine/new car?

Thanks in advance

 

[Dm_26]

Anyone shed some light?

I've called round a couple garages to get a quote for a new engine. They are going to see if they can source once first before quoting me