Home buyers who cannot get mortgages to complete purchases will not benefit from the expanded loan schemes announced on Monday. Secretary for Housing Dominic Wong Shing-wah said yesterday the expanded quotas for the Home Starter Loan Scheme would be open only to people who had not owned property in the past decade and whose family income was below $70,000. 'Those who have bought unfinished flats are still considered as owning a kind of property,' Mr Wong said. The Housing Society's assistant director of estate management, Julia Wong, said only those who had not signed the sales and purchase agreements would qualify. Prospective home buyers are furious, saying the economic package will help hardly anyone. 'We are on the brink of bankruptcy. The measures are like sprinkling water on a fire,' said Kwok Kam-hung, spokesman for a league of home buyers set up last month. The league said there were more than 10,000 prospective home buyers who could not get mortgages to complete their purchases. Secretary for Planning, Environment and Lands Bowen Leung Po-wing admitted for the first time that subsidised housing schemes had generated keen competition with private projects. 'Prices in the private market have dropped tremendously and have come so close to the subsidised housing schemes that there is no point in generating further competition,' Mr Leung said. He was referring to the withdrawal of six parcels of land earmarked for the Private Sector Participation Scheme and six for the Sandwich Class Housing Scheme as a result of the nine-month freeze in land sales. Mr Wong declined to say how much property prices would need to rebound to meet expectations. 'If the property market becomes active again with more transactions and the property prices stop going down, we will consider our measures to have been useful,' he said. About 100 potential home buyers in the Housing Society's To Kwa Wan's Jubilant Garden project yesterday protested outside the society's office. They said they could not afford the purchases because of the downturn and urged the society to let them terminate the transaction by forfeiting the 10 per cent deposit.