The landlord is not under a duty to volunteer the fact that he knew about the noisy tenant, but if asked about it then he would have to tell the truth. A direct question ("are the neighbours noisy") might enable you to terminate, or an indirect one ("are there any nuisances") might also catch him.
If you could prove this misrepresentation then you could terminate on the basis of this (repudiatory) breach of contract
If you asked "what are the neighbours like" and he did not say then this could conceivably be a breach by him. The practical problems for you is 1) they may dispute this and take it to court for a judge to decide if it was a breach and 2) there is no documented record of their saying it, so they could lie and deny saying it.
If you had in in writing from him that there were no noisy neighbours then I would say that you have a fair chance of terminating on the basis of this without giving them a case to sue you.
This is not to say you cannot try and get out of it informally in corresponding with the landlord. It costs nothing to sabre-rattle and there is no harm in overplaying your position and demanding to be released from the tenancy. This would have to be in the form of the surrender.
You may choose to attempt to get out of the tenancy by finding a replacement tenant.
Landlords are under a general duty not to refuse a reasonable repacement tenant and you should also focus on finding one to take over the tenancy. http://www.gumtree.co.uk/ is quite good for this.
Sorry it could not be better news.
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