knowing the disadvantages far outweigh any possible advantages,that doesent make me a 'fool'
Uhhhhh yes it does.
You mention about planning for things. Murphies law is if something can go wrong it will do at the worst possible time in the worst possible way. An extended law of this is, if you plan to do something, things WILL go wrong, if you don't plan things, you will probably fail.
Your plan sounds a little idealistic despite how realistic you feel you are being. So you will apply for jobs will you? No one will take you seeing that you are quailfied as a pilot, they know you aren't intending to hang around. Unless you have some experience in something where you may be able to apply for a contract role but there aren't many around. Simply having a degree (who doesn't with 300,000 graduating this year alone) doesn't qualify you for anything, you need experience, much like being a pilot. So how do you explain your pilots license? Or how do you explain a 2 year gap in your C.V.? You are being blinded by the love of flying, and if you haven't tried it yet, you'll be even more blinded by it once you have tried it but get real.
Take your plans, remove your ability to apply for a job long before you qualify, remove your savings through things running on longer than you planned and then CONSIDER THE FACT YOU ARE WILLING TO SECURE AT THE END OF IT ALL £85000 ON YOUR PARENTS HOME!