Some major international airports (eg. CDG) routinely issue landing clearances at 5 nm or so, even when you are no. 2 (or 3!) on the approach. What they really mean is
"land at your discretion after... ", in other words at that point they transfer the responsibility of the decision to land (or not) to the flight crew. While I prefer a late landing clearance, that procedure would in a case like the above have ensured a landing instead of a go-around. So it has its uses.
AFAIK, they don't use that procedure when LVPs are in force. (I can already hear the UK-centric brigade readying for an argument, but like it or not, flying internationally is
also about getting used to
different ATC procedures).
My outfit doesn't have a clear-cut rule on this in its SOPs either, and I would tend to use DA as a reference. In other words, I wouldn't want to change my mind after I've decided to land. But then again, I fly a turboprop which will react near-instantaneously to a go-around.
I have sometimes reminded the TWR:
"XXX, two miles" when on short finals with no landing clearance. That seems to work quite well.
Cheers