Advice please, renovating parents’ old house

Hanmay

Hi everyone, I’m looking for some advice please I just wondered if anyone had been in a similar situation and what the options are:
Myself and my husband currently have a £70,000 balance remaining on our property worth £100,000. We have two older sons, the property has just two bedrooms.
My parents (divorced) have have offered us their old house 3 bedroom, lots more space but has been empty some years and needs around £30,000 of renovations they have said we can buy it for £40,000 and renovate it, it is probably currently worth around £60,000 as it is. I just wondered how we could do this as we need the £30,000 to get the work done before we can move in. I have heard of bridging loans and interest only loans it’s just all a bit overwhelming, and just wondered what the best thing to do is, I’m scared to put our own house up for sale in case it sells quickly and we’re stuck and can’t move in to the other house before it’s done. Hope you guys can help, thank you so much x x

Hanmay

I hope I!!!8217;ve put this in the right place on the forum !!!55357;!!!56836;