I suppose any age car can have brake failure although the modern car has the advantage of split braking. When i used to have 60s cars, it was very common to have wheel cylinders leaking resulting in fluid loss then a very fast pumping up on the pedal hoping to stop. No Mot is a risk if owners are not the ones who can fix or check their own cars.
Those old Victors rusted out very early when new. Front wings went first. The Austin A60 used to rust out in under 4 years with holes in the sills