I "own" a domain name but didn't renew it when it "expired",?

it has now gone into "redemption". I have been told to reactivate it and it will cost approx £100. Is this correct or am I being stitched up by my suppliers?

thats not right.

I would find out how long before it gets released for anyone to renew, and then go to any other domain registration company and register it again.

http://www.netmechanic.com/news/vol6/promo_no17.htm

Some people in Internet Land make a business of buying up

non-renewed names in hopes that they can sell them, either

to the original owners or to someone else, for a quick profit.

It sounds, to me, like you are a "victim" of this practice.