Sir John was the son of Sir John Lundy of that Ilk, and Isobel Weymss; grandson of Sir William Lundy of that Ilk who died after Otterburn. He had at least one brother, Andrew Lundy of Pitlochy; and one sister, Margaret who married George Leslie, 1st Earl of Rothes. Andrew's son Robert married the heiress of Balgonie in Fife, through which marriage the Lundie's obtained that great barony.
As with many periods of Scottish history, Sir John's lairdship occurred at time of great political strife, with the bloody transition between the reigns of James III of Scotland and his son James IV of Scotland, in 1488. Sir John appears to have been well trusted by both monarchs and ruling parties, and the high offices he held prior to the murder of James III, do not seem to have been effected by the incoming of a new regime.
He acted as ambassador for the King; was a governor of Stirling and Edinburgh castles; was keeper of Falkland Palace; chamberlain of Fife; sat in Parliament; and acquired many lands to add to his estate.
He died sometime before 1516, having granted a charter of mortmain, to the parish church of Largo, of the temple lands of Balcormo. The rent was to provide for a "chaplain to the altar in the new aisle contiguous to the parish church of Largo". The Aisle mentioned here is most likely what is termed the 'Lundy Aisle,' and appears to have been the burial place of members of this family.
Sir John was twice married, and had at least 7 sons and 5 daughters. His first wife is not know; his second was Isabel Forrester.
He was succedded to Lundy by his eldest son by his first marriage, Sir William Lundy of that Ilk. His eldest son by his second marriage, Robert, was given the barony of Benholm by his father. Another son Andrew was given the estate of Strathairlie, near to Lundy.
