Have you already lent the money to the person?
Right. You've got to insist that a charge is executed before you transfer the money to him. I would always recommend seeing a solicitor to act on your behalf to ensure that the charge - which will probably be in the form of a Land Registry CH1 form (available for download from the LR website: http://www.landregistry.gov.uk/) - is drafted properly and executed (ie. signed and dated).
This charge should then be registered against the Land Registry title at the same time as when your friend applies for registration of the title in to his name.
Without an executed charge and it being properly registered at the Land Registry you are on very shaky ground indeed and I would not transfer the money without first having executed the charge - you would be accepting a huge amount of risk
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