I’m going to make this as short as possible. If anyone would like some background, just ask.

So five years after I (stupidly) cut contact with her I got back in touch.

I didn’t expect a response from her, but she did and it was long and quite loaded.

She talked about how:

- All the pain and hurt had come back.
- What I did badly affected her and still does.
- She’s had issues in her relationships and hasn’t quite felt the same.
- She thinks meeting up isn’t the best idea.
-She thought I hated her.

However, on top of all that, she said

“I like the idea of us trying something together but I’m afraid of the result”

Is there a chance she still has feelings for me?

Well, I guess there a lot that hasn't been said; that may be why nobody has bothered replying.

Why did you cut contact in the first place?
Why did you get back in touch?
What about your relationship caused her to have such pain and future relationship issues?
Why did she think you hated her? ... Do you or did you hate her?

Since she took the time to respond, then likely she has feelings that are greater than complete ambivalence ... what kinds of feelings, how intense, how guarded ... I wouldn't even begin to speculate not knowing either of you or the relationship.

From what you posted, it sounds like she likes you - but is scared, because you hurt her before.  My best advice (without reading what others have posted) is to take it slow.  IF you are serious about seeing if there is something there, own up to your mistake - and show her you have changed.  But realize this is going to have to go at her pace - not yours.  Be patient, and realize there are no guarantees.