Hi, Pairin,
In my opinion that is definitely slow. The information provided to you by the support team is correct in that distance from the exchange will affect speed, in conjunction with other factors of course, such as network traffic.
As for cancelling your bundle, I'd suggest giving them another call and discussing your options because if the service for which you're paying is inadequate, you may have grounds for exiting the contract without being penalised.
Hope you find a swift resolution.