The Abbey having been dedicated in 974, soon ranked among the wealthiest in the Kingdom and earned itself the name 'Ramsey the Golden'. Ramsey had an illustrious reputation for learning as early as the 10th century, when the great scholar Abbo of Fleury instructed the monks there.   By the end of the 15th century it had accumulated a magnificent library.

Many grants were made to the Abbey by King Edgar, Duke Ailwyn, and numerous others, and the King granted a privelege or charter of confirmation for all the gifts and endowments made to the Abbey.  In the reign of Ethelred the Second (979 - 1016), the central tower of the Abbey church gave way owing to the subsidence of the foundations, and it was wholly taken down, the foundations strengthened, and rebuilt in fine Barnack stone from quarries acquired by the Abbey.

The reign of King Stephen in the 12th century brought Civil War, "The Anarchy", and a period of decline when Geoffrey de Mandeville besieged the Abbey and built Booth's Hill 'castle', which can still be seen off Hollow Lane.  He despoiled the Abbey, stripped the altars and sacred relics, expelled the  monks, and turned the building into a garrison.  Shortly afterwards he was slain in battle and the monks resumed their occupation of the Abbey.  Abbot William de Gomecestre  built a new refectory (1276), and a new Abbot's hall, and placed a gate at the west side of the court.   He also carried out a water scheme to supply the Abbey.

In 1539, the 35th and last Abbot surrendered the Abbey and its vast possessions to Henry VIII, and for his services in promoting the dissolution was rewarded with a large pension.  Abbey lands, titles and buildings were bought by the Cromwell family, who saw to the destruction of the buildings and sold off the materials. These found their way into buildings such as Hinchingbrooke House gateway and College buildings in Cambridge. 

Some views of the gatehouse at Hinchingbrooke House

The present parish church of St Thomas a Becket is thought to have originally been the Abbey's infirmary.  The 16th century Abbey House belonging to the school incorporates the 13th century Lady Chapel and an existing gatehouse survives as a National Trust Property.