Banaster was the most obscure man to represent Shropshire in the reign of Henry VI, although, as a representative of a younger branch of the well-established family of Banaster of Hadnall, he was of gentry birth.
By the end of the 1440s, and probably before, Banaster was acting as principal financial agent for the earl of Shrewsbury. In office as his receiver-general by Easter 1447, on 14 Feb. 1448 he received the massive sum of £1,000 at the Exchequer in money owed to the earl as lieutenant of Ireland, and in the following summer the Exchequer made reassignment to him on the earl’s behalf of bad tallies worth nearly twice that sum.
Banaster probably died soon after this parliamentary service, maybe in France. On 10 Aug. 1449 he was present in the church of Prees to stand as godfather to Richard, son and heir of John Sandford of Sandford, and in Hilary term 1450 he was plaintiff in a minor plea of debt. But this is the last reference to him. In 1451 Ralph Banaster of Lacon was assessed to the parliamentary subsidy on an annual income of £5. He was either our MP’s still-living father, or else his successor, either brother or son. The fact that a Ralph Banaster attested two Shropshire elections in the 1470s suggests that it is more likely to be the son.
