Loan structure
Remortgage
A remortgage replaces your existing first-charge mortgage with a new one — usually on different terms, often with a different lender, and sometimes for a larger sum.
Remortgaging is the alternative to a secured loan when you want to raise additional funds against your property. Where a secured loan adds a separate second charge, a remortgage starts again from scratch on your largest debt.
Remortgaging is the right choice when your existing mortgage rate is uncompetitive and you're free of early repayment charges. It's typically the wrong choice when you have a low fixed rate that still has years to run — losing that rate often outweighs the benefit of consolidating into a single mortgage.
Remortgages typically take 6–12 weeks vs 2–4 weeks for a secured loan. They also require full underwriting on the entire mortgage, not just the additional borrowing. For urgent cases or borrowers protecting a competitive existing rate, a secured loan often beats a remortgage on the maths.