Is 2 hours enough to connect in Luton Airport if arriving from Belfast?

There are probably no transit facilities at Luton since it is mostly used by low cost airlines that don't sell connecting tickets.

If it was my trip I'd book a direct flight from Dublin to Lisbon instead. There are frequent coaches from Belfast to Dublin airport.

Unfortunately dublin isnt really an option for me this trip as I am unable to bring my prescription via dublin but I can via the UK.
The only other option really is Belfast > Manchester > Lisbon

Belfast to Luton or Manchester is a domestic flight so there is no immigration. Just straight off the aircraft.

Walk out of arrivals, and literally round the corner to check in for Lisbon, as you won't be checked through.

If this is on Easyjet then it is a ticketed connection.

Even after the rebuild Luton is not a big airport with just one terminal.

If it is on Easyjet then they have a later flight that day LTN-Lisbon if the Belfast flight is late. If you pay the £22 extra for their DoHop service then that is your insurance to get re-booked or re-routed in the event of any issues.

If I am right about the carrier I'd be happy to book that on condition of buying DoHop.

I have noticed the dohop service as an option for only £12 more.
I already have booked the same flights without the dohop service (a while ago , wasnt thinking at the time but now the trip is getting closer im starting to panic and considering just booking another flight with the service.)
Since Im only gonna have hand luggage im guessing its off the aircraft, out of arrivals and then straight through to security since I will already have checked in?

If you have done on line check in and no bag to drop then yes it's very simple, easy and quick.

You are after the early morning rush of flights from LTN, so security should be pretty fast. Get everything ready, water bottle emptied, zip lock bags done before disembarking, etc, to ease the process and use the bathroom before disembarking.

I'd be twitchy without DoHop. But if it's the morning flight then the aircraft will probably have only flown one earlier sector, so should be less prone to accrued delays. Would Easyjet hold the 2nd flight if yours was a bit late? Don't know.

Do you have your own travel insurance to cover for missed connections, or are able to get it for less than the cost of a new flight?

It's not an ideal scenario, and you have to take your own judgement call. Me, I wouldn't now book new flights on a what's if basis. It would have been better initially to book the insurance, but you didn't.

The thing is that MAN has 3 terminals- you may very well end up switching terminals which is a worse scenario, and it is just a much bigger airport. I see no gain by using MAN.

Well I am kinda thinking that if my flight from belfast DOES get delayed then I can now book the later flight to lisbon for £40 compared to an entirely new booking for £94.
Obviously in an ideal world then I wont have to pay any extra but even if I leave it until the day of travel and have to book the later flight because of a delay then id be willing to do so.
It might still be cheaper than the £94 of a new booking and i might not have to pay anything at all if all is well