Auctioneers deny collusion to inflate property prices

THE governing body of auctioneers has denied any knowledge of its members sharing confidential information with mortgage brokers in order to inflate property prices.

This follows reports that the Financial Regulator is investigating the affairs of some mortgage brokers who are alleged to have broken the law by revealing their clients’ details to estate agents.

The move comes some 20 months after an RTÉ Prime Time programme exposed collusion between mortgage brokers and estate agents designed to artificially inflate the selling price of property.