Your mortgage payments will increase because interest rates have increased since you took your mortgage out and you are now in an IVA where your credit rating will be impaired. Therefore you are deemed to be of higher risk, and can expect to pay a higher rate of interest to take this into account.
Staggering payments downwards means taking a view when the IVA is being proposed as to any areas of expenditure which are likely to increase. People in fixed rate mortgages, who are faced with reverting to the lender's variable rate at some stage during the IVA can expect to be hit with higher payments.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk