If you walk away from your mortgage, there is an increasing risk that Spanish banks will pursue you in the UK for the money you owe them if they have to sell the property at a loss
Absolutely, the Banks will pursue you in the UK. Banking systems are now so closely integrated that, unless you changed your identity, you will have to pay the outstanding amount on demand.
Looks like a ‘no win situation’ again. You loose if you buy and loose if you cannot sell.
Perhaps we should start accepting the fact that the Spanish only love us for our money; but do they want us living there? Probably not! 🙁