That's a bit harsh of London Uni! When I went there, (not QMC but RHC and 25 years ago), a failure of one exam in the first year was not disqualification for the second year; i.e. you could continue with the 2nd year stuff and resit the first year exam (if you wanted).
Have you tried talking to your tutors etc and see if they can't be more flexible? If not, it does seem to be a waste of a year (irrespective of your chosen career) so you may want to consider whether a degree is the right course of action for you.
Only you can know your ambitions and goals though and whether getting a degree is a big enough goal for you to carry on.
Cheers
Whirls