to a client that hold wallet in the local machine. As my understanding it's not currently possible right ?
What I'm doing right now is, I have bitcoind running on a server, and when I need to spend my coins, I rsync the blockchain from the server to my local machine which is more practical than waiting for the local bitcoind to sync up.
Say I prefer trusting bitcoind on my server to other external services (blockchaininfo , electrum, etc), it should make more sense if my remote bitcoind can provide rpc to local client holding wallet to connect to it.
You could always create your own electrum server and restrict your local copy of electrum to connecting to just that server.
https://github.com/spesmilo/electrum-server