F&P Smartdrive 708 elec. burning smell

Hi everyone.
Put on a load of washing today and went outside to hang out a load i put on earlier that morning.
Was outside for about 20mins and could faintly hear a beeping sound but couldn’t work out what it was.
My wife came out and told me that the washing machine was beeping its head off. (She couldn’t work out wear the beeping was coming from till then).
I went into the laundry and noticed the machine was on ‘Rinse’ cycle but the machine was just buzzing and a electrical burning smell was coming from it.
I occasionally smell that same smell when the welders at working are burning out by overheating.

So anyway, i think its the main bearing seized up and not allowing the drum? to rotate.
What do u guys think?

Oh yeah, i switch off the power for half an hour to let it cool down and then tryed to get thing working again…. it didn’t, except when i put it onto ‘Spin’ and drained the water out.

So whats the verdict? Am i on the right track?
Worth fixing? It is about 7-8 years old.
I’m pretty handy. Do u think i could fix it myself?

Looking forward to hearing your thoughts.

Heath.