the prospect of £95,000 debt after 2 years of interest build up scares me sh*tless
That's a healthy way to approach it. Fearfully. As
Bealzebub and others have said, this stuff about the bond being repaid to you on placement harks back to a past era. CTC may pretend that this is the basis of your training agreement, but that is simply bolleaux swinging breezily in the face of current reality. Go in expecting to have to find nearly £10k for a type rating for placement, and if a non-Orange partner airline comes along and asks for cadets (offering to pay for type rating) under the old terms and conditions, then see that as a very unlikely bonus, much as winning the lottery would be.
Also, as a side note, expect this all to change by the time you get placed - those of us who signed up for the 'old' arrangement have seen many changes over the last 3 years. As you are no doubt already aware!