Lloyd was a Captain in Colonel Lucas's Foot in 1715. He was returned unopposed as Member of Parliament (MP) for Saltash by Philip Wharton, 1st Duke of Wharton, at a by-election on 5 February 1723 after lavish entertainments which were never paid for. In 1724, he eloped with a Miss Cade, who had ‘£5,000 while he was relatively penniless. In 1726, he became captain in the 7th Dragoons.
Although Lloyd had been returned as an Opposition MP, he changed sides to support Walpole and sought financial assistance from Walpole at the 1727 British general election, when he was elected MP for Aylesbury. He went onto half pay in 1729 and was appointed equerry to George II in 1730, holding the post for the rest of his life. On his appointment, he had to stand for re-election at Aylesbury and lost his seat on 6 February 1730.
Lloyd was returned unopposed as MP for Christchurch by the Administration at a by-election on 22 January 1732. At the 1734 British general election he was again returned unopposed by the Administration as MP for Lostwithiel. He voted with the Administration on every recorded occasion.
- "LLOYD, Philip (d.1735), of Grosvenor St., Westminster, and Bardwin, Northumb". History of Parliament Online. Retrieved 2 April 2019.
|Parliament of Great Britain|
| Member of Parliament for Saltash
With: Edward Hughes
| Member of Parliament for Aylesbury
With: Edward Rudge
| Member of Parliament for Christchurch
With: Joseph Hinxman
| Member of Parliament for Lostwithiel
With: Richard Edgcumbe
Matthew Ducie Moreton