off the top of me head i'd say the grinding noise is a wheel bearing, jack up the motor and grab a wheel to see if it has any play,
as for the oil coming out of the handbrake assembly that could be 2 things, 1 oil seal on the rear output shaft has gone or 2 the nut holding the prop flange on has worked loose, both quite easy to sort out,
if your not sure or a bit worried about taking the hand brake off to have a look invest in a haynes manual,
hope this helps, mike.
