Credit crunch leaves nurses struggling

Cases of nurses in severe debt or having their houses repossessed soared by a quarter in the last year as economic turmoil took its toll, the RCN has said.

Peter Carter
Peter Carter

The union is now dealing with 33 cases of sever debt, including eight repossessions on average every month. This is an increase of 23 per cent on the same period last  year.

Many nurses who took out 100 per cent mortgages are finding it difficult to secure new mortgage deals, and struggling to keep up as their fixed rate deals switch to higher variable rates, the union warned.

Student nurses, meanwhile, are struggling to meet rising household costs, it said.

RCN chief executive and general secretary Dr Peter Carter said: ‘The current financial climate is touch for everyone. But the RCN is particularly concerned that hard-working public sector workers are finding things so tough that they are unable to keep up with their mortgage payments.'

RCN website

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