1994 BMW 316i - IMMOBILISER PROBLEM!?

I have recently bought a 1994 BMW 316i as a first car and I think that I have activated the immobiliser.

I put the steering wheel lock on and then when I came back to turn the engine on I was unable to turn the key in the ignition. Eventually I worked out how to undo the steering wheel lock and now I was able to turn the key all the way (I was able to use the electronics in the car i.e. windows radio) but the engine would not start, at this point I had also noticed that the red immobiliser light that flashes on my dashboard was no longer on. The key was turning into the spring loaded part of the ignition where the car would usaully start but now nothing happens.

Furthermore, the remote control that I have to deactivate the immobiliser and unlock the car is no longer doing so- (although the light on the remote flashes when I press it so it must be working) now I can now only lock the car by the key.

Any help or suggestions with this matter would be deeply appreciated as I am worried that I will have to spend a lot of money at my local BMW garage.

Thanks
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