N grants a standard security* over Blackmains, which he owns, to the P Bank. The P Bank registers the standard security in the Land Register on 19 June 2017. By March 2019 N realises he needs to raise some more money and seeks finance from the High Street Bank. The High Street Bank requires a standard security to secure N's borrowing. N grants a further standard security over Blackmains, this time to the High Street Bank which is registered in the Land Register in April. By 1 November 2019 N is in financial difficulty which is causing the banks some concern. Advise the banks as to their positions. Which bank is in the better position? * A standard security is a real right over property. Banks will often require a standard security over property to provide them with security for borrowing to lenders. In England the term used is mortgage.