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My home has 47 years remaining on the lease: Should I use savings to extend it by 99 years or renovate the flat instead?

I am in a bit of a conundrum about what to do with my leasehold flat. There are 47 years remaining on the lease.

My home has 47 years remaining on the lease: Should I use savings to extend it by 99 years or renovate the flat instead?

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