She had five siblings, including James III, who ascended the Scottish throne in 1460 upon their father's accidental death by an exploding cannon.
In 1462 Margaret lived at Falkland Palace, and in 1463 joined her brother, the Earl of Mar, and sister Mary at Stirling Castle.
However, the engagement was called off by her mother due to political pressure from Edward IV of England and Philip III, Duke of Burgundy.
In 1476, she was therefore proposed by James III to George Plantagenet, 1st Duke of Clarence, and she was afterward to have been married to Anthony Woodville, 2nd Earl Rivers, brother-in-law of Edward IV; but neither of these alliances took place.
[6] Regardless of the truth of this story, Margaret did become Lord Crichton's mistress, which led to her disgrace and reputation for immorality and corruption.
According to historian George Buchanan (who was "always hostile"[9] to the Stewarts), Margaret had an incestuous relationship with her brother the king.
John Riddell called her "a person, although young and beautiful, of depraved character, being even charged with too much familiarity with her own brother.
Lord Elphinstone founded the line of Findrassie, of which daughters of both the second and third lairds, both also named Robert, married Gordon of Embo baronets.