Welcome to the AndroidForums, BigBlueUK.
Yep, you sure can connect a webcam to your phone. There's several ways of doing this, but I principally use a wireless webcam to do my version of home security monitoring.
Check out this thread:
http://androidforums.com/android-applications/189991-remote-viewing-web-cam.html
By the way, the app that I mentioned, IP Cam Viewer, continues to receive at least an update or two each week. The dev is wonderful and I still think he's go the best app out there. Also, he did add the DVR function that I mentioned in the above thread.
Its not rocket science to get this setup, but you will have to do some amount of research and homework in order to choose a camera that right for you and within your budget as well as figuring-out how to get it setup (there are always a few little quirks that are unique to your setup (i.e., router, camera, etc.).
Good luck and remember, Google search is your friend, too
.
Cheers!