I've recently picked up a rather nice peugeot racer that I'm using for short commute in London (about 3.5 miles each way). I reckon its from around 80s. It has 12 gears as rides really nicely.

have a few questions:
1. the brake levers are only usable in the crouched "racing" position. Is there a way to extend the so I can use when in a more relaxed riding position?

2. Brakes are a little stiff and not that powerful, is this easy to improve by changing pads/cable?

Otherwise a really nice bike and not bad for £99. Any other suggestions for improving it whilst not ruining it's old-schoolness