How loose is loose. These guns were very slightly loose even when new - only when the forend was removed - unlike many other doubles. If the movement is significant then something needs to be done. I suggest you try and trap a feeler gauge between the breech and barrels.A thou would be ok, much more would need consideration. If you can measure it post it here, and I will examine my wife's 20 gauge 101 which is almost mint and we can use that as a datum if you wish to compare.
Every single 101 I have examined new and secondhand had slight movement in the joint when the f/e was removed - this drives English gunsmiths nuts - but doesn't seem to affect the use of the gun.
Jonty