Beyond compare unlike House of Lords? (8)

I believe the answer is:

peerless

I'm a little stuck... Click here to teach me more about this clue!

'beyond compare' is the definition.
(I've seen this before)

I don't understand the rest of the clue.

(Other definitions for peerless that I've seen before include "Outstanding" , "superb" , "Having no equals" , "Unequalled" , "Without equal, being without a lord?" .)

I've seen this clue in The Sun.

Want a hint initially instead of a full solution? Install my app