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If you explained the release as funds for improvement would the bank not be wanting to revalue the property after works and then notice you didn't improve the property?
Probably worth checking with someone that works in the business, but my understanding is that a lender never has any interest in following up. Unless you specifically asked them to re-value (e.g. if you were looking to re-mortgage in the future, at a better LTV).
NotThamesWater
Nationwide did actually mention this when I asked them so we'd likely look to remortgage with a dedicated BTL lender and release equity at that point.
If you explained the release as funds for improvement would the bank not be wanting to revalue the property after works and then notice you didn't improve the property?