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you should contact a good lawyer.
You have 2 choices:
1) try to get from the bank a reversal of the interest rate hike. This is currently happening in USA with some Adjustable mortgages and some banks prefer this to having properties foreclosed.
2) let the property foreclose. This means stop paying the mortgage and let the bank take the property from you.
I do nto know if they can come after your UK property, this is something that a good Spanish lawyer can tell you.
I would advice you to threaten the bank with the choice 2) in order to get the choice 1).
You have nothing to lose, try to be as noisy as any Spanish person would be in your situation.