I was just driving back home from and this sound started as I depressed the clutch pedal. I know this is bad otherwise the car wouldn't be doing. Should I prepare myself for massive expense? 

 

I think you need a new release bearing and clutch. The release bearing is failing and vibrating noise through the clutch housing.

Just now, Kevin#95 said:

I think you need a new release bearing and clutch. The release bearing is failing and vibrating noise through the clutch housing.

Does the Flywheel needs replacement? Sorry if this is a noob question, but I acquired this car not long ago. My previous car was Renault Clio 1.9D, single clutch.

The flywheel should be OK.

The clutch plate with cover housing and concentic slave cylinder get changed as a kit. The release bearing is in the slave cylinder.

Just now, Kevin#95 said:

The flywheel should be OK.

The clutch plate with cover housing and concentic slave cylinder get changed as a kit. The release bearing is in the slave cylinder.

So is there hope that it might not be such an expensive problem. I'm from Portugal, here to change DMF is about 1200€, I have no idea how will I be able to pay for that...

Ouch. You will need to change the dual mass flywheel along with the clutch. Also change the crankshaft seal behind the flywheel. 

Have you got a dual mass flywheel? What engine is in car? Size? Fuel?

10 hours ago, isetta said:

Have you got a dual mass flywheel? What engine is in car? Size? Fuel?

Ford Focus 1.8 TDCI 115hp Sportsvan, and yes, it does have a DMF.