The Red Rose open the tournament on Friday against Fiji and will be hoping to lay down a marker against their physical opponents in what looks to be a hugely competitive Group A, which also involves Australia, Wales and Uruguay.
It means they will need all the help they can get if they are to make the quarter-finals but home advantage cannot be discounted and the Twickenham crowd are sure to play their part.
Lomu is regarded as one of the icons of the global showpiece, having powered the Kiwis to the final in 1995 with his most memorable performance coming when he scored four tries in the last four against the English.
The former All Black admits he expects the tournament to be extremely tight but believes home advantage could prove crucial for the hosts.
"This World Cup is very open, England could win it," Lomu is quoted as saying by London24. "New Zealand come in as favourites but that doesn't mean anything really.
"If [England] get the support behind them and they build momentum they're going to be formidable and hard to beat, especially here at home. Everyone knows that.
"Hopefully people will get behind them and if they do it's going to be a tough day at the office whoever they play."