I just had a look at EFT prices, £11k (+£2.5k) for 40 hours and an SEIR. That's a very expensive simulator! I know that training on a DA40 makes sense if you're moving onto the DA42 but there are also cheaper airplanes out there. 30 hours in a 172 or PA28 then 10 hours on DA40 would be about £10k, saving enough to pay for your MEIR as well.