What is the House of Lords?

Answer 1

The House of Lords is the Upper House of the British Houses of Parliament. The composition has changed recently from Lords by inheritance to Lords by appointment. This is a bit simplistic so see http://www.parliament.uk/about_lords/history.cfm

Answer 2

They are all Lords, either by birth, or by being made a Lord by the monarch. Those made a Lord by the monarch, are often just ordinary people, who have been given the title for their lifetime only, and many are not wealthy.There are also Bishops and Archbishops.

Answer 3

Not exactly... The House of Lords debates bills that have been passed by the House of Commons - before the bill it sent to the Palace - so that the Monarch can sign it into law.
The House of Lords is called formally The Upper House. The house is situated in the same building as the Parliament. Those members of Parliament refer to the house of Lords as " the Other Place". Parliament houses members, these are representatives of the people. A Lord will not sit as a member of Parliament (an MP)

Answer 4

Upper house