I have a cousin in Liverpool and we go there every now and again to visit her. I like Liverpool! Granted, it's not the Lake District, but I guess you know that already!!
Liverpool has always been something of a rough and ready port city, and it took a big knock in the 1980s with high unemployment and depopulation. However, things are looking up for the city and it's going to be European City of Culture in 2008, so there's lots of investment coming into the city - it has a fantastic city centre, great people, wonderful art and museums, good public transport (it has an Underground railway) and can offer a good quality of life (if you have a good job).
Anyway, from my visits, I can offer the following sweeping generalisations about where to live ...
The Wirral (the peninsula on the opposite side of the River Mersey to L'pool) is generally suburban and well heeled - nice villages on the west side of the Wirral (esp. Heswall, Neston and Wst Kirby) - good train service into L'pool.
Formby is nice - north of L'pool - great beach with huge sand dunes - again, good trains - maybe a bit suburban??
In L'pool itself, the city centre is developing some attractive waterside residential developments.
The inner suburbs of Sefton Park and Allerton seem nice.
If you don't fancy living in L'pool/Merseyside itself, I think a lot of people live in nearby Chester (v. nice historic town) or North Wales (town of Mold is nice) and commute in, as it's an easy trip.
I'd recommend a weekend down there to check things out - good luck!
