Loot won't work if the saddle is cursed.
Cursed saddles also prevent you from dismounting with the #ride command. You cannot uncurse them with a blessed scroll of Remove curse or Holy water. The only ways to get unstuck are to pray to have your god uncurse the saddle, to zap a wand or spell of knock downwards, or to polymorph yourself or your steed into something that can't ride, including eating a mimic.
Knights begin with saddled ponies for pets.