In reply to Sharp:
Hi Ben, you could re route the cable direct to the main master socket without the need for a connection box if there is enough length left once you reroute the cable.
the reason for the junction box is that the external cable needs a connection point to the internal cable but the external cable can be and often is wired directly to the main socket. the main reason for not bringing external cable inside is that its bigger and tougher and doesn't look good on skirting's.
on many houses the main socket is fitted on the inside of the external wall and just wired direct. you will need a small kroning tool which can be bought at diy or online for a few quid, unless its an old style socket in which case a screwdriver will do.
the main socket not the connection box is the demarcation point but here is the important point regarding being charged or not.
firstly even though openreach maintain everything up to the main nte socket as part of your line rental agreement its all down to what the engineer considers to have caused the fault.
if its fair wear and tear then you "shouldn't get charged" but if the fault is due to damage and this will include rubbing on trees within your property you will get charged.
if the water is coming from a break in the outer insulation of the cable and running down the inside of the cable then re routing it isn't going to help, it will just happen again.
if its coming through the window into the box due to a bad sealant then re routing will resolve it.
does the cable run through trees in your garden from a pole, if so then its the most likely source and if the trees are inside your property then you could get charged unfair as that seems.
re the two wires that's all you need and doesn't matter if they are reversed.
if you need any more info pm me and I can give you a few tips , if you do report it and think the water ingress may be due to sub standard work from the last repair or installation take a photo so you can fight your corner.
cheers.