I'd just take the hit and leave mate, and admit that flying is now no longer an option for you. (I left the AAC 2 years ago, 2000 hours and moved to NZ, now with the RNZAF). 700 hours, in the bigger scheme of things, is sod all and nor is 38k. Use it on something worthwhile and go down the resettlement route of something that you know will get you employment. Aviation is an intrinsically fragile beast, so even if you do manage to get a licence, which without wishing to be rude is debateable in the time you have available, you will be extremely fortunate to find a job with those hours. Most HEMS / PAS expect at least 1500 hrs. I cant see you studying much on ocean either, so you will have to be doing all this study / Bristol stuff after you leave i assume? (Notwithstanding finding a place to live etc etc). Mind, you could always go on the boat and develop a really bad cold and not fly - thereby giving you time to study????
Or retract your redundancy application and crack on with the "walking through glue" to go flying that is typical AAC SOPs. Best of luck. (All your uncertainty takes me back, and i dont envy you in the slightest).