New Loaner!

[ohdearme]

Hi all,

I'm hoping to full loan a horse from next year on, and was just wondering what process to go through before agreeing to loan the horse?

I would obviously try the horse out before - should I try out on several occasions, perhaps spread over a few weeks, and do different things each time (hacking, schooling, jumping etc), or is that a bit excessive?

Also, I would like to ask for a trial period, to make sure we get on, and also to make sure I can get into a routine & dedicate the time, as I pretty much work full time :/. What would be a reasonable trial? 1 week or 2? A month?

What sort of things should I be looking for in a loan agreement? I'm a bit worried about unexpected vet bills, or if the horse maybe starts playing up & I need to get checks on teeth, back, saddle etc, which could be costly. I'll only be loaning for 9 months or so, but still! I just want to know what is 'typical' for a big costs on loan - is it halfsies, or loaner pays all, or owner pays all? I don't want to push my luck!

Thanks!

 

[bonny]

I think you sound a bit unrealistic, sorry. Good horses on loan are hard to find and it's the owner who dictates terms, not the loanee. If you work full time then do you have the time and resources to care for a horse ? Most loans are long term, I hope you are not thinking about loaning early in the year and then returning the horse in the winter ? I think you are going to have to lower your expectations, maybe a share would suit you better ? Or buy your own horse !

 

[ohdearme]

I think you sound a bit unrealistic, sorry. Good horses on loan are hard to find and it's the owner who dictates terms, not the loanee. If you work full time then do you have the time and resources to care for a horse ? Most loans are long term, I hope you are not thinking about loaning early in the year and then returning the horse in the winter ? I think you are going to have to lower your expectations, maybe a share would suit you better ? Or buy your own horse !

I have found a very suitable horse, but is quite a bit too far away - but the owner is more than happy for him to move. I have told her my situation & she is still happy - I am going to uni in October 15, hence why I can't long term loan or buy. The time period would be arranged, I definitely wouldn't just dump the horse back with her! I work full time, but flexible - I am technically in charge of my own hours, so hope i'm not being unrealistic!

 

[9tails]

Of you're going to full loan a horse on diy livery, you MUST ensure that you can dedicate the time. Full loan is no different to owning a horse. Loaner (you) pays everything, livery, feed, hay, shoes, dentist, vet, physio. Owner may pay insurance but this isn't always the case.

Get a watertight agreement with a clear notice period, usually a month. Make sure you get the passport and if it doesn't feel very right keep looking.

 

[bonny]

If you have found a suitable horse and an owner who is happy with your arrangements then why not just go ahead ? Re the costs, you would be liable for all of them whilst you have the horse but normally you would insure for vets fees etc.

 

[FestiveFuzz]

I think you really need to be sure you have the time and finances to take a horse on full loan before you even start looking at horses.

As an owner personally I wouldn't be happy with you moving the horse just to have a few weeks trial but would be happy for you to try the horse at it's current yard.

If you've already found a horse and the owner is happy with the arrangement I'd speak to them about who will pay what but usually full loan means the loaner incurs all the costs you would expect to pay if you owned the horse without the initial outlay of purchasing the horse.

 

[Shay]

Obviously any arrangement is individual - but a trial period on a loan is a bit daft IMO. The whole point of a loan is that it is not your horse. If things don't work out then you pay the appropriate penalty under the loan agreement and send the horse back. You don't need a trial period.

BHS do a sample loan agreement which you can tailor to individual needs. The loanee usually pays everything so unexpected vets bills etc are entirely your responsibility unless there is some exclusion clause specific to your arrangement. The only exception is insurance which the owner tends to retain and the loanee repays the cost of premiums etc. But that insurance may well not cover vet fees and you will need your own 3rd party insurance as well. Because the loanee takes on full responsibility for the horse there is often some form of penalty clause if the loan ends early - as well as a break clause allowing the owner to repossess the horse immediately if there are welfare concerns etc. You also need a clause to ensure that you are protected if the owner refuses to have the horse back at the end of the period; either a financial penalty enforceable through the small claims court, the right to sell the horse, or to put it down after a specified period.

As Bunny says good horses on loan are very hard to come by. But there are quite a lot of not so good horses available. Loans are fraught with difficulty for both parties - just search this forum for some of the horror stories. Your situation may well be one of the good ones - but best to go into it eyes open. You might do better in your circumstances to look for a share rather than a loan. More manageable financially. If you can't manage the horse is still cared for and you never take on more than an equitable share of the costs. But you are not likely to be able to move the horse - you'll have to go to them.

 

[dodgers89]

I have a horse on full loan, moved to a yard near my house. I pay for everything, livery, food, vaccination etc. he is still insured by the owner so I pay the monthly premium to them and if anything happens and we need to make a claim, the owner does all of it. However you may need to set up your own insurance, it just depends on the owners and what they want.