Hang around an old house (7)
I believe the answer is:
hanover
'old house' is the definition.
(I've seen this before)
'hang around an' is the wordplay.
'hang' becomes 'hover' (I've seen this before).
'around' means one lot of letters goes inside another.
'hover' placed around 'an' is 'HANOVER'.
(Other definitions for hanover that I've seen before include "German town, and royal house" , "Royal house from George I to Victoria" , "Royal house of Britain 1714-1901" , "old house" , "Royal house after Stuarts" .)