One upside of a company holding the freehold, is it's easier to transfer contracts (insurance/maintenance) if the owners change
I can see that being an issue with a bigger block where there may be a number of contracts in place but for two flats I can't see you'd have much. I've bought and sold a place where it was just held by two individuals and the admin was minimal (an email to the insurance broker to say who was moving in and who was moving out).
The paperwork on moving was probably less extensive than transferring a share and changing directors.
I can see that being an issue with a bigger block where there may be a number of contracts in place but for two flats I can't see you'd have much. I've bought and sold a place where it was just held by two individuals and the admin was minimal (an email to the insurance broker to say who was moving in and who was moving out).
The paperwork on moving was probably less extensive than transferring a share and changing directors.