Loan Agreement Advice

[Frog2018]

Please help ... I've been re-introduced to riding & am considering loaning a horse from the riding school where I go. They've given me a copy of the loan agreement but I'm not sure whether its right or not.

The agreement says that they can still use the horse in the riding school, that I am responsible for ALL the Vet bills, shoeing & worming & all the tack so if its damaged I have to replace - the saddle I currently ride with is a little battered & bruised as it is! Also they are wanting an annual fee ontop of the weekly livery fees.
From the research I've done, this appears to be a working livery contract (where I own the horse & am loaning to them) & not a shared loan agreement which if my understanding is right, is what I'm doing.
Confused.com ..... please could I have your advice!

 

[KrujaaLass]

So does it mean you are liable for vets fees if horse is injured while being used by pupils in riding school. What is the annual top up for. Seems a bit expensive to me. Should t showing and worming be split not just paid for by you.

 

[Tiddlypom]

This sounds like a very one sided arrangement in favour of the RS. Avoid.

 

[cobgoblin]

Sounds like a bad deal.... They are totally outsourcing all the costs of this horse but still want its use...you are being taken for a mug!

 

[ihatework]

Don’t go there. Filter the funds into extra private lessons and horsemanship type courses and then eventually look for a private share whilst keeping up lessons on share horse.

 

[splashgirl45]

i have a loan horse and have to pay all costs as the horse is basically mine until she goes home to her owner. i think the rs is wanting too much from you and i would wait until you can afford a proper loan or do a share with someone...

 

[rowan666]

Avoid! Have a look on preloved and local horsey fb pages for another loan horse. There's a lot of people desperate to part of full loan at this time of year

 

[zaminda]

That's ab absolutely cracking deal- for the riding school! I would be running fast in the opposite direction!
Our local riding school pay for the shoeing and worming of their working liveries.

 

[pippixox]

What a rip off!
Working livery usually means a massively reduced livery bill, you own the horse and are liable for costs and they use them for an agreed amount of hours in lessons.
I would not think it was acceptable to be loaning a horse and paying full costs with a top up, with it still working in the riding school. With probably not even limited hours.

However, when my friend looked into loaning a very well behaved riding school pony for her girls she was offered something similar and very expensive as the school owner said the pony was very valuable to her in lessons due to its size and temprament, so she needed to charge lots other to make it worth it (so she decided to not loan the pony)

 

[AmyMay]

Never loan off a riding school.

 

[Surbie]

It sounds a rotten deal - personally I would walk away.

This is a link to the BHS sample loan agreement template: http://www.bhs.org.uk/welfare-and-care/horse-ownership-information/buying-a-horse - the template is a downloadable pdf on the side menu.

If I were loaning a working livery I would expect reduced livery fees, clear outlines on how much work the RS would anticipate the horse doing, agreements on when that would happen, shared costs for shoeing, worming and possibly vet depending on what those costs were.

There are lots of loans and shares around at the moment where I am - I'd assume that's the same most places.

 

[ROMANY 1959]

Basically you would be paying hundreds £££ a month to have the privalege of riding the horse when the riding school didn’t need it, often it would be not so popular times, horse could be tired, leave it, and concentrate on lessons and then look for a private share or loan horse

 

[blitznbobs]

Barge poles spring to mind

 

[Pearlsasinger]

I agree with every-one else - avoid at all costs.

 

[Toby_Zaphod]

"Cake & eat it"............ for the riding school. This is a terrible deal for you. You have to pay for everything including tack replacement, normally very shoddy at a RS, when they are using your horse & tack & wearing it out. There doesn't appear to be any restriction on the number of times per week they can use the horse. You'll also find that when you want to ride your horse when you are off at weekends the school will work it many times as weekend are their busiest times. Steer well clear of this, it's too one sided, a contract like this is written buy sharks.