I never paid a penny up front. The 2 schools I used for CPL amd MEIR just made us settle up at the end each day of flying. No reason they shouldn't accept that philosophy. Or at worst, always be £1000 in credit. £19000 in credit......???
Assuming the double dip recession does happen, there will be casualties. Don't become one of them.
I can put you in touch with a guy who will block book you 50 hour blocks for a lot less than £100/hour. Your quote isn't awful, but you could definitely beat it without giving up quality. Remember, people should be biting your hand off at the moment. Caveat emptor.
(Just a final thought, as your thread asks for advice. Are you sure you really want to go down this route? I was looking for the dream when I started training. Finished nearly three years ago. never a sniff of a job. Made redundant from a ground based role. Starting a "normal" job in 2 weeks and reluctantly turning my back on aviation, likely permanently unless a miracle occurs. Look at all posts by WWW, Weasly Wee Welshman. He must have a crystal ball somewhere because his predictions are correct, and his advice should be taken seriously.)