"Credit to Liverpool because they’ve got heroes all over the pitch tonight," Lampard said on 'BT Sport'.
"This isn’t the City we are used to seeing this season. They approached it less than they would a regular game.
"You have to do the nasty stuff, and they couldn’t match Liverpool in that first half for hard work."
"You have to give Liverpool the utmost credit tonight. They went out and executed a perfect gameplan," added Ferdinand, who played in three finals.
Steven Gerrard was also on the panel, having inspired Liverpool to Champions League glory in 2005.
"I think we’ve seen both sides of Liverpool today, the pressing side when they’re aggressive on the front foot and excellent on the regain," he said.
"In the second half they were excellent to a man defensively and they forced City to run out of ideas."