Lingard made a temporary switch to the London stadium until the end of the 2020/2021 season in the winter transfer window and has made an impressive start to life at his new home.
The 28-year-old scored twice on his West Ham debut against Aston Villa at the start of the month and has helped the Hammers to fifth on the league log in his two subsequent appearances.
Before switching camp to David Moyes’ side, Lingard had grown disillusioned with life at Old Trafford after not getting a game in the top flight in the first half of the season.
Ferdinand believes Lingard has outlived his usefulness at his boyhood club and should be looking to kick on at West Ham or elsewhere at the end of the season.
"What's his ambition here, beyond this season," Ferdinand told BT Sport. "What is he looking to do?
"If West Ham don't put a bid in to buy him at the end of this loan I think this loan has to be seen as a failure.
"That's got to be his aim - to get a bid from West Ham and other clubs to take him out of Man Utd.
"Because I don't see him going back to Man Utd and really affecting that squad now.
"I think they've moved past him with the players they've recruited, he doesn't feature, hasn't done for so long.”
