Yes. WaterSafe will accept NVQ Level 2 as a minimum, accompanied by a Water Regulations Certificate, but recommends S/NVQ Level 3, to be fully competent.
In England, the new plumbing apprenticeships developed for plumbing and domestic heating are level 3 only.
Take a look at the 48 list of accepted qualifications and reference entry routes - when your work will be assessed for competency.