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Certainly possible, provided that the mortgagee is happy with it. If you're a cash buyer you could just hand over the cash and trust that everything's OK. Bloody stupid thing to do, but stupidity is generally not unlawful. Given that they have a prospective mortgagee the lender will require a report on title from the solicitors (which would include getting a copy of the registered title) and would require some searches to be done. However, there may be other less critical searches (local authority and environmental searches spring to mind) which the mortgagee may not require and which the purchasers could decide not to bother with.
Edit: Just checked the CML handbook, Part 1 of which (which applies to all lending by CML members) requires:
5.4.1 In carrying out your investigation, you must ensure that all usual and necessary searches and enquiries have been carried out. You must report any adverse entry to us but we do not want to be sent the search itself. We must be named as the applicant in the Land Registry search.
5.4.2 In addition, you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out.
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Brommers
Still waiting for my vendor's onward purchase to go through so they can GTFO. Latest update is that they are waiting for their lender to value/survey the place they are buying but I have also been told they have instructed their solicitor not to bother with any searches as they want to move as soon as possible.
Technically none of my business (unless it fucks the chain again) and it's good that they want to move quickly but is this even possible? I would never forgo the searches myself but I don't recall it being an option to say, "no thanks".