How to apply for a horse loan for a pony in the UK

Before people go out and apply for a horse loan for a pony in the UK, they should first decide how they plan to use the horse. People who earn money from their horses will have to apply for a business loan. Those who only have one or two horses for non-commercial purposes will be able to apply for a personal loan.

Generally banks and finance companies will not be too concerned with the fact that the borrower is taking out money to buy a horse. The customer services representative will simply ask the borrower what the money is for and continue with the application. Getting a loan for a pony should not be any different to getting a loan for a car, holiday or business costs.

In an ideal situation borrowers should approach their local bank for a loan. Buying and keeping a horse is an expensive affair. Due to this it is best to choose a lender that offers low interest rates and gives borrowers the opportunity to increase their loan amount in the future.

Lastly borrowers should take the time to determine exactly how much money they will need to apply for. Some borrowers will simply borrow the cost of the horse. Other applicants will want extra to aid them with the initial costs of stabling, hay, feed, vets fees, insurance and other extras. It is important to get this figure right as many people wind up selling their horses as they underestimate how much it costs to keep them.

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