Contractors face a more limited range of mortgage options due to the prevalence of short-term contracts in the current job market. If you can demonstrate a solid track record and provide your “daily rate,” lenders may consider this as a basis for assessment rather than your net profit. High street lenders often inquire about the duration remaining on your current contract to gauge your ability to make timely mortgage repayments. In some circumstances, it may still be possible to secure a mortgage, even if it’s your first contract, depending on your individual situation.