It was created in 1880 for Alexander Baillie-Cochrane, a long-standing Conservative Member of Parliament and old friend of Benjamin Disraeli.

He was the son of Admiral of the Fleet Sir Thomas John Cochrane, son of Admiral the Honourable Sir Alexander Cochrane, sixth son of Thomas Cochrane, 8th Earl of Dundonald (see the Earl of Dundonald for earlier history of the Cochrane family).

Lord Lamington was succeeded by his son, the second Baron.

He represented St Pancras North in the House of Commons and served as Governor of Queensland and of Bombay.

On his death the title passed to his son, the third Baron.