The hereditary peers are now a much smaller bunch, apparently there are 92, elected from the larger number of 800ish who are theoretically eligible.

Before 1993 all of them could hold seats.

The majority of the house these days is made up of life-appointed peers, who are nominated to the house by the commons. There are also 24 bishops.

There are moves afoot to remove the last hereditary peers, though I’m not sure of the current status of that bill.

If Labour get re-elected in a few years, they have made muttering about further second-house reform, but no plans or commitments at present