Just to follow up on this problem. After changing the coolant bypass valve, the 15462 code cleared.
Unfortunately, it was replaced by a code (can't remember the number) indicating a faulty thermostat - apparently a very common problem.
Cheapest replacement (unbranded) from Ebay, about £100. Given the work involved in replacing it I went for a branded part - Meyle £280 from Germany, and a day's work to replace it!
Stripped the old part and found the motor pinion lying loose at the bottom (It's glued or pressed onto the motor shaft), so the valve was stuck shut.
I'm sure this is more accurate than the traditional thermostat (worked pretty well for the last 100 years), but really?? Dealer price £800+ to replace a thermostat??