The collegiate churches were dissolved between 1545 and 1549 and Crediton's was "surrendered" to Henry VIII in May 1545. Shortly afterwards the parishioners of Crediton entered into successful negotiations with the Crown for the purchase of the collegiate church which was then threatened with demolition. These were completed in the spring of 1547, when the town paid the sum of £200 to the king. In April 1547, Edward VI signed a charter which created a new organisation for the governance of the church. This was a corporation of 12 governors to administer the Parish Church and its endowments. A vicar of Crediton was appointed together with two chaplains, one of which ministered to Sandford (the adjoining parish).