Ronald Hutton, in one of the Conference papers, makes the point that 'humility', while 'completely alien to the spirit of pagan epic' is almost equally unknown in medieval Christian romance. Where it is to be found is in (as The Might points up) Folk & Fairy tale, & Hutton quotes Gandalf that is is part & parcel of 'stories about dragons & goblins & giants & the rescue of princesses & the unexpected luck of widow's sons'. Hutton points out:
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You don't have to invoke theology to explain why the fictions of the common people tend to have underdog heroes
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I think the answer is simple - the heroes of LotR are humble because LotR is a fairy story & that's what's expected of heroes in Fairy story - if they are to avoid the pitfalls & the dungeons that await the overbold.
As to the point about it being something in the English British character the point is made in an article in today's Times about Strictly Come Dancing