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Is there any way that I can resize either footage without starting again and if not how do I go about that from scratch?
Aspect ratio and frame size are two different things; both footage types are 16:9, but obviously the sizes are different.
You used a 1920x1080 sequence preset, so anything smaller than that is going to appear to "float" with a black border. If you want to continue using the 1920x1080 sequence, you'll have to scale up the 1280x720 assets. In the Effects Control Panel, swivel down Motion and use the Scale parameter to blow up the 720p footage to match the sequence size. You can then copy and paste the Motion effect to the other 720p clips, or create an effect preset and apply it to the other clips. Obviously, this will result in some image degradation, since you're doing an enlargement.
Alternatively, create a new sequence at 1280x720, copy everything from the original sequence, and paste into the new one. Now, your 1080p clips will be cropped, since they are larger than the frame. You can either leave them as they are, or use the Motion > Scale procedure to shrink those larger clips to fit the frame.
Just decide which works better for you...
Thank you, much appreciated!