I believe in Scotland there are laws about EICR's, but not as yet in England or Wales, I think the laws only affect rented property, but since I don't live in Scotland not really interested.
There have been problems when adding circuits, mainly with RCD protection, assuming all was to regulations when fitted, then there is no need to upgrade, but for example adding a socket where there is no RCD protection would require Ali-tube cable and RCD socket neither which are cheap so it could be uneconomic to use that method.
Next is existing faults, it was common for lighting circuits to be split, so there was upstairs and down stairs, often this splitting resulted in borrowed neutrals, which have never been permitted, but until RCD's are fitted often go undetected. Clearly faults like this need correcting.
There are two main laws covering electrical wiring, electricity at work act, although you can do stuff to your home, if you have any tradesman working in your home, then it is his place of work, so it can cover the home, and Part P building regulations or other name for same thing if in Scotland. Part P does not actually say it has to follow BS7671, nor does EAW act, all they say is it must be safe, however it is normally considered if it follows BS7671 then it is safe.
However most domestic electricians have to be scheme members in order to self certify their work, they enter into a legal binding contract with the scheme provider, and as far as I am aware that contract means they are legally obliged to follow current BS7671 even if you are not, so you or I could decide since we are living both in Germany and UK we will wire the house with German sockets, there is nothing illegal in doing that, and you or I are free to do that. However they don't comply with BS7671 so a scheme member electrician could not do that without special dispensation from scheme provider.
Places like St fangons have found they are in breach of EAW act because what was allowed years ago is not allowed today, so to say if it complied with regulations at time of installation then it's still OK is not strictly true, however most home have been rewired post war and we would not expect to see old knife switches still used in the home, although I did find some in an old farm house, lucky no longer live, from the time when supply was from a generator. In the main any wiring done after 1966 is still OK today, 1966 was when it was decided lights needed an earth.
I am wary of telling some one your electrician is wrong, specially without seeing the job, often electricians do air on the safe side and suggest work not strictly required, but that does not really mean he's wrong. I will admit when anyone says a rewire is required, my first question is why, as most houses have been upgraded over the years so only sections need changing, however unless you know the property it is easy to make an error, this house for example once had a power shower, removed when combi boiler fitted, the wires are still in the wall, it would be very easy with part rewire to make them live again in error.
So use what you read on this forum to try to persuade your electrician to change his mind, but do remember he is there so may have seen something we have missed, and at end of day it is his signature on the paperwork.