Looking at the rust, I would ask myself if I had a rear seat passenger and was involved in a crash what would be the structural integrity of the lower seat belt mount. Certainly not what it's maker intended. Don't buy a cheapo welder, it's much harder to do a half decent, let alone tidy job.
Treat it like a proper classic, cut out and replace with new metal. Give yourself a month per side as I reckon you'll be doing everything up to and possibly beyond the midline of the inner arch.
I learned a long time ago, own a Omega, buy a welder. Welder will probably cost more than the Omega but has many more uses including repairing toilet seat hinges, curtain poles, garden furniture, broken workshop equipment etc.
Also, buy a year's subscription to Practical Classics magazine and use the skillshack tutorials to get advice and really get into the spirit of it.
I have nearly got to the end of welding the current Omega, front inner arches, rear inner arches, pin holes along both sills, sill ends and rear floorpan, so all normal stuff. Still have to drop the tank and do about 3ft of rear valence that's not there any more. Uneconomic if I had not done it myself and a perfectly mechanically sound Omega would be a washing machine by now.