Hi Craig, I don't think there's anything wrong on the bike, the problem is likely to be the pads. On cheap pads, usually from China, sometimes the resin used to bond the materials together in the pads is so poor it boils out when the pads get hot and forms a glaze over the surface of the pad rendering them useless. If you look at the pads you should be able to see them shine. If you're still not sure they're glazed try lightly rubbing them down and give them another go, they should work for a few stops but will go bad very quickly. My advice is throw them away and look for a better make.
Cheers
Col