Strictly speaking you forfeit the deposit if you no longer wish to travel. This to my knowledge is £150/£300/£450 not sure where the £1250is coming from, This would be up until 5 weeks before when the balance is due after that the sliding scale of cancellation sets in.
My parents were in a slightly different situation in so far as my dad was ill and they waived the £100pp fee and £25hotel fee on production of a medical certificate. They were told they could rebook anything for departure within ONE YEAR OF BOOKING, They were told that if the total cost was higher they’d pay the difference and if it was lower they’d get the refund, the agent suggest DUB/AMS to maximise the refund as they couldn’t travel where they wanted to within a year of booking, Long weekend in Dublin booked and £2000 ish refunded and a lifetime of goodwill gained,. Seems you are getting a GOGW misinterpreted with the fees,
Why was the deposit £1250