As both secured loans and remortgages require to be secured against a cast iron guarantee,namely a property in this instance,these home loans are only available to homeowners.
Some remortgage lenders and secured loan lenders accept second or holiday homes as security, and naturally they all accept primary residence as suitable security.
Both these products do very much the same in that both release equity in a property which can be used for almost ny purpose.
Remortgages and secured loans are a great way of buying a vehicle and using a secured loan or remortgage for this purpose does away the need for a deposit that would be required when buying from a dealership.
Many homeowners fund home improvements with either a secured loan or a remortgage. This is the cheapest way forward, as arranging a home improvement loan through a home improvement company normally has the high interest rate of about 25% APR.
Taking out remortgages or secured loans as a means of funding home improvements will get you a good deal when buying the materials needed and the carpenter, etc. will also reduce his rate.
Both secured loans and remortgages can be used for debt consolidation where credit cards, personal loans are payed off leaving only the secured loan or the remortgage to be paid each month. The savings by arranging debt consolidation can be huge.
As to whether a remortgage or secured loan is preferable depends on personal choice to a great extent
Remortgages have in general a lower rate of interest than a secured loan.
Secured loans on the other hand can be arranged in under three weeks, and remortgages take double that time.
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