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You have nothing to lose by trying and it shows your ambition to further yourself. Even the experience of the interview process for a higher role will be valuable for the future. If you think about it and don't try then you will always regret
@JayneA My biggest consideration is the bypassing of a senior. She might not like it that she has more experience than me but I would potentially be being paid more, if accepted. There is no interview. That is for new entrants, not for those already in the inside. Thus, it's more like submitting papers and getting recommended I believe. But yes, I think I will regret it if I don't do it.