Some of the world’s richest car owners are heading for an unscheduled and unexpected trip to the service garage after Rolls-Royce issued a worldwide recall for million-dollar vehicles such as its Phantom limousine.

The recall has been initiated by Rolls-Royce after the British luxury car manufacturer detected separate potential brake and fire risk issues for its Phantom range as well as the newer, smaller Ghost sedan.

It affects more than 120 Rolls-Royce vehicles sold in Australia dating back to 2003, in total worth about $100m.

The Rolls-Royce Ghost, which went on sale in 2009 and costs $645,000 (and pictured above), is being recalled after checks discovered there was a possibility the electronics for the auxiliary water pump that cools the 6.5-litre V12 engine’s twin turbos could overheat and catch fire.

Owners of the Rolls-Royce Phantom, available in a variety of body styles and costs from as much as $1.35m, are being asked to have their vehicle checked for a potential oil leak in the power braking system.

Rolls-Royce says it could be possible for the leak to cause “a vacuum loss and consequent reduction of power breaking assistance” that may increase the chances of an accident. The company says mechanical braking is unaffected and still capable of slowing the car.

Rolls-Royce says no incidents have yet been reported by customers for either the Phantom or Ghost.

The British brand, owned by BMW, has contacted customers to recommend contacting authorised Rolls-Royce dealers or its customer relations department in the UK.

The Rolls-Royce recall completes a bad few weeks for the BMW Group, which last month issued a global recall campaign affecting about 1.3 million BMWs.