 Chancellor was knighted in the 1951 King's Birthday Honours List.He died at Wincanton in southwest England, aged 85 years old, and was survived by his widow, his two sons and two daughters (the eldest having died young).He was married in 1926 to Sylvia Mary Paget (1 July 1901 London – 26 October 1996 Shellingford, Oxfordshire), eldest daughter of Sir Richard Arthur Surtees Paget, 2nd Bt by his wife Lady Muriel Finch-Hatton, only surviving child of granddaughter maternally of the 12th Earl of Nottingham & Winchilsea, who was himself descended from a sibling of Jane Austen.