thanks for the replies folk.
Billi, Yes the water would flow to the basement of the house.
I do like the idea of a pressurised tank in the basement, wheras the tank up the hill has less to go wrong (

) unless of course ice forms, which it does, occasionally.
I had thought that mains pressure is about 2-3 bar, is that correct? If using a tank, what would be a sensible size,
(space is not a problem).