Sri-- you should have a shot, but know that LBS is not going to like your undergraduate scores. The GMAT should make up for it, but they may view you as a really smart person who has trouble applying themselves. The way to innoculate this concern is to demonstrate focus in your career and a clear vision for what you plan to achieve post MBA. I would not mention the bit about changing your mind about the MBA--again, you don't want to lead them to any conclusions about your commitment or work ethic that are negative in nature.
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