Its easy to replace the pads - the tricky bit is getting the adjustment of the pad clearance right using the "adjusters" that this system has because of the way the handbrake is integrated into the rear calipers. First - buy new pads. you will probably have to back off the adjusters to get the new pads to fit. Make sure you don't screw them out too far!!  If the pads have stick-on backing it can be simpler to remove this so that you don't have to create the maximum possible gap. Enjoy!

Once you've got all the pads in, you'll need to adjust the pads with the rear wheels off the ground, in neutral, and hand brake off. Make sure that the hand brake cable is backed off and not holding the inner pads on(back off the 10mm & 13mm cable lock nuts if they are, untill everything is loose). To get a good peddle and hand brake i recommend adjusting the outer pads first. Contantly(slowly)spinning the wheel while spinning the adjuster anti clockwise,until the wheel wont spin. Then back off adjuster approx. 1/4turn(till wheel free's up again), lock up the 17mm nut. Repeat for the other outer pad. Then move to the inner pads, again spinning the wheel while adjusting until it to locks the wheel. Back off until wheel spins again. This should give a good peddle. Last, adjust the cable back up until cable slack is gone from between the caliper arms. Arms should be fully out and future hand brake adjust should be done by adjusting all the pads...not the cable. Hand brake should come up approx. 4 clicks.
      If pads adjusted to loose, peddle will be low and handbrake will be high, if pads adjusted to tight, after a few Km's brakes will heat up and bind on. Forcing the car to stop on the side of the road until it all cools down.
      But all that said, once you've done it a couple of times, it's pretty straight forward.
              Have fun...and good luck.

Let me know how you go. I couldn't manage it, tried it with no idea what I was doing. I figured out how everything worked, but couldn't get the adjustment correct. I was under the impression you need a special tool for the rear brakes?

The special tool is a 17mm socket, cut down a bit, with a handle welded onto it, greenGTV8 Andrew made it for me.

Neil

I just use a cheap 17mm socket - cut in 1/2 using an angle grinder - then use a SMALL pair of vice grips to hold the socket - because you need to use the center hole for the allen key!

jimn~

To get the hand brake right, you must fully back off the handbrake cable(release the 10mm and 13mm nuts) above the right hand caliper. So that the cable is flopping about. These nut are only adjusted to take up stretch in the cable, not to adjust the handbrake! All four pads must be adjusted correctly(as mentioned further up the page) and then do up the nuts on the end of the cable in order to get a good handbrake. If pads are to tight, brakes'll lock up while driving, if to lose, peddle will be alittle low and handbrake will come up to high. The 13mm nut on the end of the cable should be done up with your fingers just until you see the arms connected to the cable(which operate the inner pads)just start to move. That's it...then lock up the 10mm and your done.
      Hope this helps, just yell if you need more info!

Thanks Greengtv8, all this advice is very handy. 

I've just got in from taking off my rear calipers (a story in itself) so they can be rebuilt, and while it wasn't too hard to get them off (time consuming though!) I'm dreading putting it all back together, but you make it sound so easy....