It is a simple DIY fix. Adjacent to the slot you'll find a knurled nut also with a slot. Turn it so that the two slots don't line up. That way the cable can't escape.
My bike is so cheap only paid £200 for it. It just seems all components going on it, I have tighten the anchor bolt on it and the bolt has just fully gone. Just to clarify all I had to do was loosen the the anchor bolt, grasp the cable, and move the arm up the cable. But because the anchor bolt has gone it won't stay. Starting to think the reason everything is going is because the bike is cheap. Any ideas would be much appreciated
The anchor bolt you are referring to is where the cable is secured to the brake itself, right, not the lever?
By "the anchor bolt has gone" do you mean the thread has stripped and the allen head bolt will not engage? If so, LBS and get another bolt from their plentiful spares box.
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