Thanks for all the advice!

It would be great to send the part away and get it fixed but funds are very tight due to unemployment. I'm trying to get the car sorted as cheaply as possible which isn't ideal I know, but I've got no choice.
The car is driving fine apart from a noisy wheel bearing. I've driven some shocking cars in my time so not having abs or traction control isn't a problem.
About 3 years ago I had a 1955 Austin A30 and whilst driving the brakes completely failed. This turned out to be of the most scarey experiences of my life.

I was driving up Houghton Cut, a steep A road in the north east, when the engine lost power and the car started to roll backwards. Then gearstick came off in my hand and the handbrake didn't work!
http://www.youtube.com/watch?v=bZkpwlG8dWo