Once the new and re-founded cathedrals and other endowments had been provided for, the Crown became richer to the extent of around £150,000 (), per year, although around £50,000 () of this was initially committed to fund monastic pensions. Cromwell had intended that the bulk of this wealth should serve as regular income of government. However, after Cromwell's fall in 1540, Henry needed money quickly to fund his military ambitions in France and Scotland; and so monastic property was sold off, representing by 1547 an annual value of £90,000 (). Lands and endowments were not offered for sale, let alone auctioned; instead the government responded to applications for purchase, of which had indeed been a continual flood ever since the process of dissolution got under way. Many applicants had been founders or patrons of the relevant houses, and could expect to be successful subject to paying the standard market rate of twenty years' income. Purchasers were predominantly leading nobles, local magnates and gentry; with no discernible tendency in terms of conservative or reformed religion, other than a determination to maintain and extend their family's position and local status. The landed property of the former monasteries included large numbers of manorial estates, each carrying the right and duty to hold a court for tenants and others. Acquiring such feudal rights was regarded as essential to establish a family in the status and dignity of the late medieval gentry; but for a long period freehold manorial estates had been very rare in the market; and families of all kinds seized on the opportunity now offered to entrench their position in the social scale. Nothing would subsequently induce them to surrender their new acquisitions. The Court of Augmentations retained lands and spiritual income sufficient to meet its continuing obligations to pay annual pensions; but as pensioners died off, or as pensions were extinguished when their holders accepted a royal appointment of higher value, then surplus property became available each year for further disposal. The last surviving monks continued to draw their pensions into the reign of James I (1603–1625), more than 60 years after the dissolution's end.