Thanks guys. Some great input and very much appreciated. I would not be considering this 737 rating and hours unless I was desperate and I sway dramatically between doing it and not doing it. I do have a few options for possible jobs (nothing set in stone) but all of these are a long way from home. However, I'm willing to take them just to get back in the game and to be clocking up the hours.
At the moment I have two real options. Either build hours in a single piston at a minimum of £90 per hour wet, not including landing fees etc so let's call it £110 an hour. 300 hours of SEP time is therefore going to cost me £33k. OR I do a 737 rating and do 300 hours on that the total cost of which is £25k with an option to extend to 500 hours for an extra £3,500. Purely as an hour building excercise it makes sense to me, and I can see it making me more employable in 12 months time when I've done the rating and all the hours. But as I've said, something just doesn't sit right with me and I abhor pay to fly schemes in general. However, they seem to be the new norm and if I don't do it, some other shmuck will.
I should also add, 'Daddy' isn't paying for this, but nor will I need to get in debt. My training was funded by careful saving and a very lucky break early last year.