The Bid Price and the Offer Price are the prices at which people are willing to transact.
The price is the percentage amount that someone is willing to pay for the remaining capital on a loan. So, if a price on our secondary market is 101.50%, it means that a lending member is willing to pay £101.50 for every £100 of capital that remains to be repaid.
On other platforms this would be called “a 1.5% premium”. Similarly, if a price was 98.00%, it means that they are only willing to pay £98 for every £100 of remaining capital, “a 2% discount”.