Unless any changes are made to the title they won't know. Bank staff don't even do the valuations or inspect the property in the first place..
Look at it this way.. if they were likely to call the loan for you increasing the value of the property then why didn't they call the loans of all...
I am planning on doing the same thing with my PPOR.
No way will I tell them until I am finished and ready for new titles to be issued ..
If you have mortgage insurance ..borrowing over 80% - this will be a real nightmare if you tell them first.
You do the right thing and you will...