You would need to go through the process on portico to be considered by the new course. There's no guarantee they can consider you, but they won't rescind your existing offer for doing so.
Bear in mind HPE is offered by the School of Slavonic and Eastern European Studies, not UCL economics (or politics, or history). The modules are SSEES modules and there's a strong emphasis on Central and Eastern Europe accordingly. The economics side is also much less mathematical than the economics department courses.
This may or may not be what you're interested in, but it's important to understand and be aware of in case it's not.