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I have registered a domain from you now the designer has finished designing the site he is asking my to transfer the domain to his name so he can host it. what am i now supposed to do ?

Never transfer the domain to your webdesigner's name there have been umpteen cases about frauds. Some bugger just leave the customer high and dry and take up a job in a MNC firm abroad. Instead ask the designer to give name servers where he plan to host your website.

We would update it for you if you are not comfortable with the domain control panel at no cost. But donot transfer the ownership to any one else till your trust that person.

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