You can do the IR bit on a FNPT II but you have to use an aircraft for the MEP. But if you use an aircraft for the IR it will also allow you to revalidate your MEP.
Its worth while doing the revalidation at a school which allows solo sim sessions. Practise in the sim until you have your scan working and the checks flowing. Then 1 session with an instructor to make sure your not making acomplete hash of it.
1 trip in the aircraft just to get used to flying a twin again and away you go.
The examiners for the revalidation arn't as intimidating as the CAAFU although I have heard that the CAAFU aren't to bad for renewals either (this could be more a change in our attitudes than thiers)
My last one cost in the region of 900quid including test fee which was 1 hour solo sim 1hr with an instructor, 1 hr in the twin which also doubled as MEP test because the instrctor was a MEP examiner (bit of a fiddel that because the hire rate for Instrument instructing was more than solo hire plus test fee mep) then 1 hour solo plus test fee for the flight test.
Leeds flying school are doing a package
IR Renewal Training
Renewal Package - £995
Comprises 3 hours GA7 Cougar, 1 hour dual fnpt(I), 2 hours solo fnpt(I)
IR Renewal Test £150
Which seems pretty good value to me.
MJ