Tinstaafl
Only problem with that course is that many employers ask for an approved course, or else non-approved but with more hours (commonly at least 1000 for example BA City Express ask for this). A conversion from a US IR is not an approved course. This puts the student in the position of the old CAA "self-improver" but with fewer hours. The small saving in cost may not be worth it.
It also leaves a student with very little UK flying experience, also unpopular with some employers, and increasing likelihood of failing the CPL skills test or the IRT which reduces employment prospects (a first-time pass at IR is very helpful).