In 1415 Sir Richard Knightley purchased the manor of Fawsley in Northamptonshire, where the senior line of the family became seated.
On 23 August 1892 he was raised to the Peerage of the United Kingdom as Baron Knightley, of Fawsley in the County of Northampton.
He was the son of Reverend Henry Charles Knightley (1823–1884), younger brother of the fourth Baronet.
He was childless and on his death the title passed to his younger brother, the sixth Baronet.
There is a monument to Sir Richard Knightley (d.1537) in St Michael's Church at Upton near Northampton.