Paladin level loss

[Lathander36]

Hello. I am wondering that when a paladin loses a level from level 5 to level 4, does he lose his special mount? If he does, do I still have to wait the one year and a day?

 

[Breakstone]

I'd say the mount is still there, but it doesn't act as a Special Mount. It keeps the bonus HD, natural Armor, Str Adj, and Int, and Improved Evasion, , but it can't Share Spells, have an Empathic Link, or Share Saving Throws.

Also, on a roleplaying note, it won't be as loyal to the paladin, and might not allow him to ride as much.