Born around 1490, he was the son of Sir Thomas Lundy of Pratis, and after his father's death, became the heir of his grandfather Sir William Lundy of that Ilk. He married Elizabeth Lindsay, daughter of Sir John Lindsay of Pitcruvie, Master of Lindsay and Elizabeth Lundie, (who was herself a daughter of Robert Lundie of Balgonie).
Walter succeeded to the Barony of Lundie, upon the death of his grandfather,
Sir William Lundy of that Ilk. Walter was given sasine of the lands and Barony
of Lundie in 1528. His inheritance of his lands appears to have not been straight
forward. He recieved a new charter of infeftment of the lands and Barony of
Lundie from King James V, on the 12th of July 1540. This charter was granted
to him and his spouse and united the Lands of Haltoun and others into the
barony of Lundie.
By 1554, Walter had granted a charter of his lands and the Barony of Lundie to his second son William (his eldest John dying before this date).
In 1531, following a disagreement between the Laird of Ardross and the Prior of Pittenweem, a James Borthwick, John Anderson and John Balzeat, were slaughtered. Amongst the party assigned guilty of involvment in this slaughter were David Lundie, Walter's brother; Andrew Lundy, brother of the Laird of Balgonie; John Lundy of Strathairlie, and his brother James; William Dishington, fear of Ardross; James Sandilands of Cruvie; William Lumisden of Airdrie and William Gourlay of Kincraig. Following the judgement of their guilt, they were escheated, and the King made a gift of their goods, both moveable and unmovable, to Walter Lundy of that Ilk.
On July 22nd 1536, Walter and George Earl of Rothes were given a Royal letter giving them special licence to "fulfil thar pilgrimage at sanct Johnne of Amyss and do thar uthris lefull erandis and besynes quhar thair ples in the parties beyond say."
Walter was one of the earliest and staunchest supporters of the Religious
Reformation of Scotland, and appears in many a Kirk and parliamentary record
relating to this. John Knox, is known to have stayed at Lundie House as Walter's
guest around the 23rd of August 1559.
In 1565, Mary Queen of Scots came to Lundie, and was received as a guest by Walter. He objected to her partaking in Mass, and as a result some seven months later, upon a return visit to the area by Queen Mary, Walter was committed to prison in St Andrews.
Walter died before the 2nd of May, 1569. His spouse Elizabeth Lindsay predeceased
him, passing away before 1544. Walter had seven sons and at least seven daughters.
He was succeeded by his second son, William Lundie of that Ilk who was also
a zealous protestant and reformer.
