Leasehold: Buildings insurance before exchange?

starpoke

Hi,

I am selling a leasehold property, the buyer's mortgage company (Nationwide) wants the buyer to be noted on the buildings insurance prior to exchange or will not release funds. However, our freeholder arranges the insurance and is point blank refusing to do this on the grounds that the buyer has no interest in the property until exchange has taken place. He has agreed that he will add the buyer before completion.

This is the last outstanding item and we have to be moved by the end of the month, I feel like I am trapped in a catch 22 and am worried that our chain will collapse over this, any ideas on ways around this or who is correct?

Thanks in advance.