To those going for this scheme, do consider if you could push to a 10pc deposit - doing that would hugely slice your monthly repayments. David Hollingworth, associate communications director at broker London and Country Mortgages, said that while people with a 40pc deposit can get access to rates below 2pc, the reality is that people with a deposit of just 5pc were never going to see rates "radically" drop. RBS (which includes the NatWest brand) has two options: borrowers can choose between a two-year fixed rate of 4.99pc and a five-year fixed rate of 5.49pc. There are no fees with these deals. Borrowers can apply as of today through the group's 2,000 branch network or by phone - it has said it will extend opening hours to meet demand from would-be borrowers. At the moment the mortgages won't be availabe through brokers but the banks says they will be by the end of the year. Mr Hollingworth said the "pick" of the products unveiled so far was RBS/NatWest's fee-free 4.99% two-year fixed rate deal for buyers with a 5pc deposit. Lloyds Banking Group, which owns the Halifax and Bank of Scotland brands, has said it "is launching products at 90-95pc loan-to-value, available for both first time buyers and homemovers." If you have 5pc: - Yorkshire Bank currently offers a mortgage at 5.49pc fixed for three years, with no arrangement fee. - Hanley Economic Building Society currently offers a 5.69pc deal fixed for five years, with a £100 arrangement fee. Use the Telegraph mortgage repayments calculator to do your own sums. What are the risks of using Help to Buy? There are two main risks: the first is that interest rates, which are today at all-time lows, will rise in coming years, meaning monthly repayments will go up. The second risk is that by putting down a small deposit borrowers have little equity in the property and if prices fell could find themselves in negative equity. The Council of Mortgage Lenders warned: "Borrowers must expect their ability to afford repayments on the mortgage to be assessed as rigorously as an application for any other mortgage; indeed, from the perspective of the borrower, there is no practical difference between a mortgage that is supported by a Help to Buy guarantee and one that is not."