The Financial Network (TFN) - - We checked it out for you.

The Financial Network (TFN) is a Singapore-based loan broker founded in 2015. It presents itself as a boutique financial consultancy that helps consumers and business owners compare loans from multiple financial institutions. TFN’s website and listings describe it as an intermediary that “works with all banks in Singapore” to match borrowers to suitable loan packages. Its tone is professional but broad, positioning itself as both a mortgage and business loan specialist.

Unlike large digital platforms that use automation, TFN markets its human approach—personalised guidance, free consultations, and side-by-side loan comparisons. On the surface, that sounds ideal for busy borrowers who prefer having someone manage the paperwork. However, as with all brokers, the question is less about presentation and more about structure: who actually pays them, and what shapes their recommendations?

TFN claims to be “independent” and “unbiased,” but these terms deserve scrutiny. Independence only matters if a broker’s compensation model is transparent. In Singapore, there’s currently no licensing or disclosure regime for loan brokers, meaning firms can accept commissions from lenders without telling clients. In the US, the 2010 Dodd‑Frank Act amended the Truth in Lending Act (TILA) to curb this practice, banning brokers from steering borrowers toward higher‑fee loans. Yet, even in regulated markets, it is still not enough to curb malpractices. In 2024, a Reuters report on United Wholesale Mortgage (UWM) being sued by consumers for billions in excess fees revealed that borrowers alleged brokers were nudged to send clients exclusively to one lender, even when better offers existed. That case underscored a fundamental truth — incentives matter, and transparency only works when oversight does.

In Singapore’s unregulated environment, such incentives remain invisible. That’s why borrowers should approach any “free advisory” service with healthy skepticism. The advice may be free to you, but it isn’t free for the broker to provide—someone is paying for that time, and it’s almost always the lender. If two banks offer similar loans but one pays higher commissions, which offer do you think gets presented first?

To TFN’s credit, there’s no public record of misconduct. Its social media presence is minimal, and no verified consumer complaints were found. However, the absence of controversy doesn’t equal proof of neutrality. Even honest brokers can be shaped by opaque commission rules. As our review of Lendela, Lendingpot, and Smart‑Towkay, where we caught them lying with screenshots showed, misleading claims often arise not from malice bu...

Borrowers using brokers like TFN should adopt a simple rule: ask questions before signing anything. Which lenders will be contacted? Are moneylenders included, or only banks? What happens if you later find a cheaper rate elsewhere? A transparent broker will answer these directly. An evasive one will insist “we’ve compared everything” without proof. That’s a red flag.

Education remains a borrower’s best defence. Our article Loan Brokers: 10 Insider Tips Every SME or Borrower Should Know breaks down how to verify broker independence, understand commission structures, and spot common marketing traps. For example, when you see a “best rate” claim, always ask for the loan’s tenure, processing fee, and lock‑in period—details that can change the effective cost dramatic...

Borrowers who prefer full transparency might consider a loan marketplace instead. In our breakdown What Is a Loan Marketplace and How Are You Different from a Comparison Website or from Using a Broker, we explain how marketplaces differ from brokers. A true marketplace forwards your application to multiple lenders at once, so you receive actual offers, not ...

TFN appears professional and small‑scale, with no signs of outright deception. But the broader issue is systemic: in Singapore’s unregulated brokerage landscape, independence remains a claim, not a guarantee. Until brokers are subject to clear disclosure standards, every borrower should verify what’s being compared—and who benefits from the recommendation. Awareness, not trust, is your best safeguard.

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