Once upon a time I worked for a famous/in-famous school that trained heaps of UK/European students in Aus, and they all went back to Europe to do the theory. That may have been because the school didn't teach it here, and therefore did not want to pass on other options...but I think it was more that the students wanted to become associated/introduced to some aviation companies back in the UK, if indeed thare was any option available here. Can't remember for sure but suspect the full time course was approximately 3 months mon/fri 9-5...this would suggest a hell of a course to do by correspondance. Hope some one else can answer for sure... if not PM me and I'll put you in touch with one of the guys who has done it full time in the last couple of years.
Cheers FBD