Lucky, lucky chaps who only just got away with it. Another example of CRM breakdown where the co-pilot knew what was wrong but let the experienced captain nearly kill them all.
Safety Recommendation 2014-35
It is recommended that the Civil Aviation Authority review the regulations that permit a helicopter engaged in public transport operations to descend below MSA for the purpose of landing, when flying in instrument meteorological conditions but not on a published approach procedure.
until this oft-abused loophole is closed, there will continue to be CFIT accidents like this one very nearly was