Basically:
Download HTML from server.
NSURL *URL = [[NSURL alloc] initWithString:@"http://www.example.com/page.php"];
NSError *error = nil;
NSStringEncoding encoding;
NSString *theSource = [[NSString alloc] initWithContentsOfURL:URL usedEncoding:&encoding error:&error];
Replace the file references to load images locally.
Note the double slashes, this seems important.
// Replace:
<img src="File.png">
// By something like:
<img src="file://Path//To//Resources//File.png">
Detailed information how to do this (check post by Joe D'Andrea):
Link to resources inside WebView - iPhone
Finally make the UIWebView load the HTML:
[webView loadHTMLString:htmlString baseURL:baseURL];
Now it should load the 'fresh' HTML from the server with local images.