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Update: after panicing about the timing chain issues, I called around a few garages for quotes. These ranged from £830 to £1000+. I decided to attempt a fix myself, so I removed the hydraulic valve from the side of the engine and it seemed to be a bit sticky (shaking it made no noise) but no bits of plastic. Cleaned it as best I could with some carb cleaner, reinstalled it and I've not had the error come back yet (done at least a few hundred miles of motorway driving too). Cleaned the vanos valves too just for the sake of it.
I'm going to replace the valve anyway to be sure as it's a fairly easy job and will do the service myself at the same time.
I have borrowed an inspection camera and have tried to see if I can spot anything down the oil filler (the answer is not much - apart from everything looks pretty clean). I will see if I can see anything via the sump drain hole when I drain the oil.
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