Moving from Full Time to Part Time Studies

So I completed my 2nd year study however I fell short for progressing to the third year full time as the board of examiners changed the criteria to progress last minute. Therefore I had the sufficient credits to proceed however the module I failed is developed into another module for 3rd year hence they prevented me from progressing me to move to 3rd year full time on the specific course I am on. (Biomedical Science). I was given a few options and I believe moving to part time and splitting my final year into two years allowing me to do the failed 2nd year module alongside a few 3rd modules across this year and next year.

My question is:

I've gotten into contact with my tuition and funding team. But do I delete my full time student finance application and reapply for part time application? What else would I do before signing the course transfer sheet? I essentially want to get this done as soon as I can as I start university again from October. I was given this decision at the start of the month and it took me a while to think of what I wanted to do. But I am now very likely to proceed to part time but what do I need to do and prepare before I sign the course transfer sheet from full time to part time. I just don't want my tuition fee loans to be given in late but I wouldn't mind if my maintenance loan is delayed just as long as the tuition fee is paid right and on time.

Thank you