The House of Lords is well overdue for reform. It is supposedly a second chamber with a responsibility to review and debate legislation and propose amendments where necessary.
There are some genuine experts on everything from the constitution through to science, law, medicine etc who have something of value to contribute, and you do not want to lose that expertise, that wisdom.
What we can definitely do without though, is those hereditary peers, who have a right through birth alone - it is only serendipity if some of them have something useful to offer a chamber of legislative scrutiny. We could also do without a rump of bishops with an automatic right to be a member of the house - and we can certainly do without a large proportion of the life peers that are often only appointed to the house in order to change party supporters.
We now have a bloated house of over 800 or so, and we could do with far less.
Scrap the hereditary representation, scrap the bishops automatic rights. scrap the PMs right to stuff the house with life peers and signicantly reduce the number of peers.
Amend their salaries/expenses so we can have a more cost effective house ,one more in keeping with modern Britain, and one less dependent upon political views and more dependent upon expertise in business, the arts, science and law.