Hello Lunarboy,
I too have experienced that very unsatisfactory situation of pushing on the brake pedal only to have to go straight to the floor, with no resistance at all and no application of the brakes. This was in 1986 or so and being new to driving a very unpleasant experience to say the least. Quickly releasing the pedal and pressing again they worked fine, almost as if I had just imagined having no brakes... :shock:
Having no experience with cars at that time I visited my local Rover dealership, and upon collection the Service manager said that the master cylinder had been at fault. He said something about valving... :? What ever he did the problem has never repeated and in the subsequent times when I have rebuilt the master cylinder I have never had any problems.
I know that the same problem had affected a number of other local Rovers too.
As Harvey advised, check the end float within your front wheel bearing so as to either rule them in or out, and depending on the outcome you can then look to the master cylinder if need be.
Ron.