The themostat is fairly simple / cheap but the water pump is driven by the timing belt so that would all need to be removed before you can get at the pump
Book time for the timing belt on a 20vt is 2.20 but you'll need to add a bit on to replace pump .
You could try the thermostat ( plastic outlet on the front of the block ) but I have my doubts as to whether it will cure the problem

If it is the pump it's a good idea to change the timing belt, tensioner and pulleys while your there .
