Personally I think £200 is a reasonable price to pay for the chance to get your entire training sponsored for you. At the very least it shows a level of commitment and that you are serious about becoming a pilot, rather than someone completing the selection on a whim. Would it be 'nicer' if you didn't have to pay anything? Of course.
This is by far and away the best training scheme you are likely to see for the foreseeable future - and frankly you will end up paying considerably more than £200 if you choose any other training route. Just talk the the ryanair pilots who have to pay for their own type rating...