I submitted a speculative app last year and then got an email back in May for one the first pre selection day in LHR. As I was / am short of the min hours I had to wait for the sim in Nov again in LHR, and am now waiting for the dates for the final couple of days in Dubai. The pre selection and sim are exactly as detailed here and on pprune. I would recommend Skytest for the aptitude tests and math test, as they are identical (worth the €60).
Irrelevant of your hours, my impression (and feedback from others at my major LCC in Europe who have applied) is they will contact you if you hit the min requirements, or are within 500hrs of hitting said mins. They will not hire you if you do not have the mins period, but you can go through all the selection process and be lined up ready to go as soon as you have the min hours.
So far the process, although long, has been very good and every effort has been made during the selection to make you as comfortable as possible. I hope now I can just jump the final hurdle in Dubai! Feel free to question me on anything specific, and I will try help. Good luck.