Bmw 3 series

Hi there, i brought a 3 series bmw for £200 but it seems to be in limp mode, i have scanned it and been given the error code p1050 and p1062, what could be causing this and is there anything I can do to fix it?

P1050 - issue with your catalytic converter or O2 sensors. P1062 - Poor running condition, possibly MAF sensor or electrical system fault For the first, check to make sure your O2 sensors are functioning as intended. This can be done with a handheld diagnostic tool. For the second, try to clean your MAF (mass air flow) sensor. This will be located inside the intake tube. If you have not torn one apart before, either have someone else do the job or be EXTREMELY careful. The MAF sensor itself is a tiny metal wire and breaks easily. Only use MAF cleaner from a labeled MAF Cleaner aerosol can and follow all instructions. If that does not help, you are looking at a bad wire somewhere which will take some serious digging on your end to locate.