Completing purchase of freehold should I update my lease

pred02

Hi,

Me and my neighbour in the process of completing the purchase of freehold for our flat that has 81 years left on the lease. We are going to get the lease extended to 999 years, but I was wondering if there is any good reason to make any other updates to the lease, and if so what should we look out for to update?

Also, going forward what is the best way to manage maintenance of the property, it's a split level maisonette so not a lot of shared utility beside the front of the house and entry, but I was wondering in terms of the gutter, roof, etc.

Thanks

AdrianC

When you sell the place, will you retain your share of the FH, or sell the flat as LH with partial FH?

If the latter, it makes absolutely no difference what you write into the lease. If the former, then you may wish to consider future ground rent etc.

As far as maintenance goes - you just to decide what suits you and your neighbour best.