Apologies, I think I used to know the answer to this, but I am finally starting to look at spending Avios again rather than just accumulating them! If I book an RFS to EDI and use the max Avios/min cash option (I know, but I am very long Avios right now!), then if I cancel I just lose the £2 and get my Avios back, right? BA doesn't come after me for the full £35 cancellation fee before it re-credits my Avios?

Thanks for confirming guys.