The most common and most likely answer to this crossword clue is the 8 letter word SLACKEST
I've seen this crossword clue in Independent
S
L
A
C
K
E
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T
More clues leading to the result SLACKEST
Buddy explains!

The straight part
We know that "most loose" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case most loose = slackest.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SLACKEST mean?
SLACKEST adjective- (normally said of a rope) Lax; not tense; not firmly extended.
- Weak; not holding fast.
- Lacking diligence or care; not earnest or eager.
- Not active,successful, or violent.
- Excess; surplus to requirements.
- Vulgar; sexually explicit, especially in dancehall music.