Taxistaxing speaks a lot of sense, as have a couple of others on here.
In my opinion if you can't get on to the BA FPP, or can't get the loan even if you do get on to one of the easyJet/Monarch/Flybe MPL's, then modular is definitely the way forward.
It WILL take you longer than integrated, and you will be slightly disadvantaged when looking for a job as the major players that hold all the cards with contracts (CTC, Oxford) will prioritise their cadets over modular learners.
However, you WILL have a far smaller loan than the £90k+ from going integrated (maybe even no loan at all) as a reuslt of it being cheaper to go modular, and you can 'pay as you go', and should still have a good job as a back up whilst you are waiting for that opportunity to arise, so need not panic if it takes 12 months before one opens.