When you need to raise money against your property, you typically have two options: remortgaging to release equity, or taking a secured second charge loan. Each has advantages depending on your circumstances.
When to Remortgage
Remortgaging makes sense when your existing deal has ended (you're on SVR), when you can get a significantly better rate, or when you need to borrow a large amount relative to your property value.
When a Secured Loan Is Better
A secured loan is often preferable when you're in a low fixed rate you don't want to lose, when you'd face early repayment charges to remortgage, or when your circumstances have changed and you might not qualify for a new first charge mortgage.