Welcome Steve, I was from the UK too. Have some great riding memories from there & Europe.
I have an '02 European SP2 model in white (You can search my ID for pics) and it's got a silver swing arm, so that would be my first concern. I'd check the usual things, like repairs to the body, signs of crash damage, incl. rear sets, etc. Try to look on the inside of panels, especially the upper front & rear cowl. Take a good torch with new batteries. Removing side panels isn't all that difficult. You should require just a stubby Phillips screwdriver.
Mine's been mostly reliable, so I don't have much experience of what to look for that could go wrong, but I do hear of electrical problems on this forum often - caused by bad wiring. Someone had extended the wiring for the CDI unit on mine using crimp on connectors and it kept blowing CDI's every 3,000 miles or so. Soldiering & heat shrinking fixed that in the end.
Check for rattles and blue smoke, especially on startup, but don't be confused by rattles from the clutch.
With the UK you need to be careful of corrosion due to all the crud on the roads & wet weather. Check especially behind the front wheel on the down pipe & oil cooler lines and also on the underside, near the swing-arm linkage.
Taking each side panel off helps to be able to see more.
Ask for history and a receipt for valve clearance check. Seehow often the oil's been changed and what type if possible. A bike accompanied by lots of receipts is usually much better than none.
Aim for an unmolested one, or an example that's clearly been loved always. It'll look after you better. If you get a good one, the SP2 is a great bike that can be made better.
There are still some good performance parts for this bike if it needs it. Some from the UK (Harris & Maxton for example) and Europe, others from the States & Japan too. They're plenty quick enough, can take long trips in their stride & handle very well. I'm still really enjoying it after 7 years.
Euro RC51 SP2: HRC WSB Ti Hi-Level, T1 Airbox & Snorkel, PCIII, Dymag CA5 Carbon Wheels, Ti64 Spindles (F, R & Swing Arm), Mori Link, Maxton GP7 Shock & Ohlins 832 Forks, Brembo GP Calipers & SBK narrow track (F), Braketech Disc (R), Brembo billet Underslung x 2 Brembo RCS, Tyga Triple, 7075 Stem, Probolt Titanium all over, Babyface rearsets, MR Complete Carbon Lineup, Custom Undertail & CBR 1000 LED, Watsen LED Indicators, Harris Brace, Giles clip-ons, Corbin seat, etc. 2013 BOTY.