overheating and engine racing

hello there a problem thats just occured, i was taking my children home on the motorway and when i came off at my exit i noticed my engine racing while i was coming to a stop at traffic lights, I also noticed engine was racing when stationary, The temperature gauge rises to the red and when i noticed when i got out of the car a hissing sound coming from the engine and also a small amount of fluid on the floor near the radiator, looked like antifreeze, the car has been serviced a few months ago and have never had a problem like this, and help or suggestions please, also the exhaust is blowing
 
Head gasket failure most likely. Its very rare for a K10 to do this. Do you know what engine is in it? 1.0 or 1.2?
 
I'd be inclined to replace the engine, not just the head gasket. If there engine has severely overheated then its probably done more damage than is worth fixing, or chancing with just changing the head gasket. Its an all alloy engine which tends to warp when overheated that much.

You can probably pick up an engine for about £100 and I suspect labour and parts to change it would be around £350. Its not a bad job to do DIY if you know anyone capable, but I can imagine it possibly being more work than the car is potentially worth if taking to a garage.
 
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