It was created on 12 July 1725 for William Bateman, previously Member of Parliament for Leominster and the son of Sir James Bateman, Lord Mayor of London from 1716 to 1717.
He was made Baron Culmore, in the County of Londonderry, at the same time, also in the Peerage of Ireland.
He was also a politician and notably served as Treasurer of the Household between 1756 and 1757 and as Master of the Buckhounds between 1757 and 1782.
As both the barony and viscountcy were Irish peerages, the holders sat in the House of Commons while holding the title.
The 2nd Viscount built Somerset House, in Park Lane.