No UK school that I am aware of accepts a 700+ on the Math2 as equivalent to a 5 on Calculus AB or BC AP test.
In this case the Calc is not a requirement, but I want to clarify for any future readers who are applying to UK programs that do require Calculus.
Edinburgh will accept 650 on a SAT II in lieu of AP. That is the first website I looked at so I am pretty sure there will be others.
Not for Math.
My daughter applied to Edinburgh in Chemistry and they would take IB (6 in SL or 5 in HL) or AP (5 in AB or 4 in BC) only for the math requirement . The course requires Calculus. the SAT Math 2 Subject Test is not a Calculus test.
Edinburgh has updated their US page to clarify this which is good because it was not clear last year.
Option 1: AP Calculus (AB or BC) at 4
Option 2: SAT subject test Mathematics 2 at 700 and a Calculus class at grade A within the high school diploma (including differentiation and Integration Calculus)