Just looking at the pulleys on the spindle then, should they rotate freely on the spindle? There’s a grub screw in middle which on mine isn’t tightened down to the spindle but the pulleys don’t freely rotate on the spindle, could that be my problem?
Jilly,
To put it another way
The spindle is effectively in two halves, the rear half always rotates at the speed set by the motor belts. The front half with the big gear on it can either run at the same speed as the back half, or at a much reduced speed via the ‘back gear’
One of your levers will connect/disconnect the two halves of the spindle the other lever will bring the back gear shaft into contact with the spindle gears for the reduced speed. Not moving the first lever and operating the second lever means you have two speeds selected at the same time and something has got to give. In your case it’s throwing the lever out
If you are unable to turn the chuck by hand without the belts moving by moving any lever it’s not the end of the world except turning big stuff or thread cutting will be a little challenging.