Please help with IVA query - nominee changing outgoings?

ObservingAnnie Forumite Posts: 6
Name Dropper First Post
Hi all. Hoping I can get some advice please. I am a homeowner since Dec’2019. I purchased my property using HtB and therefore the government has a 20% stake in my property. I am in just over 32k worth of debts, no defaults or missed payments as yet but I have had a couple of repayment holidays because of Covid. I’ve approached Creditfix for some advice and they have suggested an IVA. I’ve received my proposal but haven’t signed it yet, I am really concerned about a couple of things and I have replied back to Creditfix with my questions but I’d really like some advice from MSE members please! 

1) given that I’m so early into my mortgage, and that there is the HtB loan to go on top of my mortgage regards to ever selling or releasing equity etc, what are the chances of me having to (and being able to) remortgage after the first 5 years of the IVA? Is it likely I’ll have to pay another year instead of releasing equity to pay? Any advantages or disadvantages of this please? Really don’t want there to be any risk to my home!! 

2) The ‘nominee’ (advisor?) I spoke with and gave all of my income and expenditure to, including sending two/three months worth of bank statements, has ‘jiggled’ with the figures slightly. He has made it seem that I’m paying more out each month on certain things in order to demonstrate that my income / expenditure only allows for a certain amount to go towards the IVA each month. Is this right? Can I get in trouble for this? What about when I come to my yearly review, is it likely my payments will shoot up if the ‘true’ figures come to light? I must stress I have not given any misinformation, as I say I’ve submitted bank statements and the nominee has arranged the SOA. 

Please give me any advice you can. Thank you. 
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