My understanding is that many of the 5% deposit mortgages aren't part of the scheme anyway.

I bought at 95% LTV in February and for us it was the right decision. 15K deposit on 300K house. To save an extra 15K would have taken another year, and who knows what would have happened to house prices or interest rates in that time, whilst also blowing 1K on rent each month. We also wanted to get cats and cut our commutes.

And good thing that we did, at 95% our interest rate was 2.89%. Now interest rates have risen, saving an extra 15 grand for 90% LTV would have actually resulted in a higher rate than at 95% back then, as even 90% ltv now is over 3%.

Long story short, if you can get onto the ladder and afford the payments, I would do it. Rest is out of your control.