Mr Inspector, a qualified building inspector in Melbourne took these photographs at a building  inspection in Frankston which shows loose or hanging wiring in the sub floor inspection.

This building inspection defect is often seen in the sub floor area of older homes we inspect.  Normally related to poor workmanship and can be a safety hazard if the wiring is live.  Mr Inspector tests loose wiring to ascertain if this is live or not and you will need to get a licensed electrician to make minor repairs to deem safe.  This signifies the importance of having a qualified building inspector assess your home before you purchase.