What are the benefits of applying to formally purchase your lease under the Leasehold Reform Act 1967?

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1. There is a defined process for bringing the matter to a conclusion via the strict timetable as set out in the legislation.
2. The valuation date is fixed at the date when the notice is served.
3. If you are unable to agree terms, you have recourse to an independent arbitration process and have the option of taking the matter to a tribunal, whose decisions are binding.