View old tie (7)

I believe the answer is:

opinion

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'view' is the definition.
(I know that view can be written as opinion)

'old tie' is the wordplay.
'old' becomes 'o' (abbreviation).
'tie' becomes 'pinion' (I can't explain this - if you can you should believe this answer much more).
'o'+'pinion'='OPINION'

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(Other definitions for opinion that I've seen before include "Conviction - point of view" , "Personal view" , "View held without positive proof" , "View, barrister's advice" , "Viewpoint" .)

I've seen this clue in The Times.

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