I found applying the following function to a links onclose works to close Fancybox from within an iFrame:
parent.$.fancybox.close();
I want to take this further and have the link take the parent page to a new url. I've tried the following but it doesn't work:
<a onclick="location.href='http://www.domain.com/page/';parent.$.fancybox.close();"> Close and go to page</a>
using a href doesn't work either as the onclose takes precedence.