King John granted Sir Thomas Basset a Colyford fayre, lasting 7 days at Michaelmas in 1207.
Today, this exuberant festivity is commemorated by the revival of the Goose Fayre, which is held on the Saturday nearest to Michaelmas. It is believed that “The Vineyard” was the site of the original fair so the present site adjacent to “Springfields” is very appropriate. Later, after several successful fayres, Sir Thomas founded the Borough of Colyford in c1225, most likely granted by King Henry III. The new borough was established by marking-out “burgage plots” along both sides of the main road and selling them off to the serfs. In the 13th century, the term “borough” did not mean a municipal borough but any town or village where tenements were held in “free burgage” (ie by payment of money to the Lord of the Manor), and thereby releasing them from liability to agricultural service to their lord as serfs.