The first thing you need to do is determine if the slipped timing chain has caused any valves to to hit any of the pistons. If so this would likely result in bent valves. Bent valves can cause lack of compression. It the timing can be reset and the engine hasn't been damaged ie good compression on all four cylinders, then happy days, replace the tensioner, and chain if the mechanic deems it necessary. Even if you have one or a couple of bent valves, a full rebuild shouldn't be necessary, just cylinder head off, replace the bent valve(s) and off you go.
2001 Bora 4 Motion Sport now used by number two son
2011 Skoda Octavia Scout now with Underground Performance tune
2010 Jetta 125 tdi dsg for the misses - Impressed
2006 Polo GTI - Enhanced by some of Gav's magic - Absolutely loving it
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