Dholloway: The BA web-site is quite clear in warning about the validity of "Lowest Fare" ticket:
The following warning is prominently displayed in big letters before you book...
Fare Rules for your Economy (Lowest) tickets:
* The price shown below is the lowest fare available for your chosen flights on the days you have selected. This fare type will normally carry a significant penalty for cancellations and refunds, which may be up to 100% cancellation fee for the most restrictive fares.
* Changes may also be restricted, subject to a charge, or prohibited altogether, according to route and fare type. Furthermore, higher charges may apply if the ticket validity is extended
"100% cancellation fee" and "changes may also be.... prohibited altogether", I don't think BA could be any clearer about the possibilities.
Nick