Hi Desgy
Welcome to the IC Forum.
Good news, yes you can cancel without penalty.
Some hotels allow you to cancel up to 2pm on the day of arrival, others need 24 hours notice, in rare cases more notice is required. Full cancellation details will be shown on the reservation confirmation page.
Should you need to cancel, points are returned immediately.
If the property is no longer on the Pointbreak list you will not be able to change the dates.
Are you planning an exotic break to Swindon?