Customers have also been given the opportunity to waive legal and valuation fees when they use their own solicitors.
Discussing the offer, Yorkshire Bank's head of retail Gary Lumby said the package was "an excellent deal" for those with mortgage deals that are ending.
"We know people are feeling the pinch right now and want to help make mortgages more affordable," he explained.
"Instead of homeowners having to switch to a Standard Variable Rate when their mortgage term expires with their existing lender, we will work with them to look for the right mortgage rate and waive the arrangement fee."
Abbey recently announced it was reducing rates on several of its two and three-year fixed and tracker mortgage products.
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