"If successful throughout the training at FTEJerez, and 1st Officer positions available, no further selection will be required by Flybe and you will flow straight into a Q400 type rating course as a part of the MPL training."
Sounds ever so slightly dodgy to me. It's almost like they're not sure if they'll actually be able to hire you at the end of the MPL.
I'd want that clarified before committing, but a good opportunity never the less.