Expat Exposure To Non Payment Of Thai Mortgage

I was married in Thailand and have two young children with my Thai ex wife. She met someone else after we moved overseas to Australia and left us so I divorced her (mutually agreed divorce) last September. The result for her was she came off my work visa and spends her time with her BF on periodic tourist visas while awaiting him to get his own divorce and sponsor some other sort of visa for her (we don't discuss that part). We still have a house in Bangkok. The house has been on the market with two different agents since we moved overseas in 2009 and no real interest from anyone in buying it - if there was an opportunity to offload it without defaulting on the mortgage we would do that but theres just zero interest from buyers. Paying for a full time nanny in Oz makes it difficult for me to continue paying an 85kBaht/Month mortgage so I've decided to stop paying after telling my ex wife this. I forewarned her a while ago so she's not surprised. Each of us have our own concerns about the consequences: She is concerned it will affect her ability to get a visa to move back from Thailand permanently to be with her BF and I am concerned it might affect my ability to get a mortgage in Australia if I decide to stay here and it might affect my ability to travel to Thailand with my boys (they have dual UK/Thai nationality but I have only a UK passport). The house and mortgage are in her name but I was the guarantor. The house was 12.5 million baht, I put down a 2.5 million baht deposit so the mortgage was for 10 million baht. There is still 8.5 million principal left to pay.

Advice appreciated on consequences of defaulting on a mortgage in my circumstances.