As said above, you should be looking to get out asap.
I would imagine the building would be sold with vacant possession as it would be worth more which means the bank, if they wished, would get you evicted first.
More worrying is the lack of deposit protection. Did you receive any notification of the deposit being protected when you took up the tenancy (I'm assuming this is an assured shorthold tenancy with rent under £25k per year)? If not, you can still check with the schemes by simply ringing them up - I think there's only three, the main one being the Deposit Protection Service (DPS). If the deposit isn't protected (and assuming that it should be) then issue a letter before action stating that you will be taking the landlord to court for 3x the deposit (this is the penalty for not protecting a deposit). For more advice on this try the Landlordzone website.