Born in Cheltenham, Glos, the artist used his wife's maiden name - 'Lloyd' - in order to avoid confusion with the established artist known as William J Ferguson (WCAA). He married his first wife, Irene Lloyd, daughter of brass founder, Thomas Lloyd of Worcester, in 1879. The couple had three children, making their home at Otley House, Bath Road, Cheltenham. In 1881, Ferguson exhibited in the 16th spring show of watercolours by the Royal Society of Artists, Birmingham, with a painting entitled Newlyn, Cornwall. 

His first wife died in 1893, and re-married in 1895, his second wife being Helen Louisa Tyler, the daughter of bank inspector George Tyler of Southhampton.  

Ferguson died aged 88 in Southampton (GRO).