Not to deter you from renewing your MEP, but as this is your first renewal, do you specifically
need your MEP?
Instrument Ratings can be renewed by doing your test solely in a simulator each alternating year. If you want to renew the MEP at the same time, you would be required to do the whole test in the aircraft. As im sure you can appreciate, the price difference between the 2 is quite substantial!
Airlines look for the IR on a multi-engine aircriaft (ME-IR), whereas the MEP is just a nice addition - if you have no intention to fly MEP's in the next 12 months, there is little reason in renewing it. I'd advise you to let it lapse and renew the MEP next year when you would be required to do the IR in a real aircraft.
I would advise you to take a look at flying time aviation based out of shoreham. They have a fleet of DA-40/42 aircraft, and DA-42 FNPT2 simulators. They are situated by brighton, so not so far away!
They offer a IRR special at £490 inc VAT, which includes refresher training in the simulator, the test itself and the examination fee. This is extremely competitively priced, and having renting aircraft from them on a few occasions, I can only recommend their professionalism.
Check out
Flying Time Aviation for more information!
Hope this helps!