Huntsman's cry identified by Yankee in lofty house (5,2)
I believe the answer is:
tally ho
'huntsman's cry' is the definition.
(I've seen this before)
'yankee in lofty house' is the wordplay.
'yankee' becomes 'Y' (phonetic alphabet: alpha, bravo, charlie etc.).
'in' means one lot of letters goes inside another.
'lofty' becomes 'tall' (synonyms).
'house' becomes 'ho' (abbreviation for house).
'tall'+'ho'='tallho'
'y' placed into 'tallho' is 'TALLY-HO'.
'identified by' is the link.
(Other definitions for tally ho that I've seen before include "Cry on sighting prey" , "Cry from Jorrocks" , "Cry of the hunt" , "I can see a fox" , "Four-in-hand" .)