Of course!
You just deregister them from school, and can say in the letter why, if you want, though you don't have to. THere is a form letter on the Education Otherwise website.
If/As you're planning for them to go back into school once you get your house back, it might be worth finding out if the school will hold the places (they might not be able to, depends on how oversubscribed they are). If they can't, you could put the children straight onto the waiting list as soon as you are pulling them out! Or, since you'd be HEing for however long the work took, then you could always be thinking phlegmatically "well, we'll HE until we move back home, and then for as long as it takes to get a place at the school of our choice".
Also worth investigating whether you'd want to follow along with the NC while they are at home, if you're planning to put them back in (you will just be AMAZED how quickly you can get through that formal stuff with just the two of them at home - maybe an hour or two a day tops?). If so, either the LA may be able to advise you, or even the school, about how to have the children ready to reintegrate.
And after that, just find yourselves the local HE social scene (again, Education Otherwise is a good starting point, or THEN-UK, or get yourself on one of the national HE emailing lists and ask for advice about local contacts because someone is bound to be able to help. THEN-UK has a mailing list and is a friendly place to start ) and have a ball while your house is being made as good as new!