Fire crews received reports of the fire at 05:50 this morning.
Crews from across Leicestershire rescued three people from a property in Loughborough this morning (28/10).
The fire was at a property on Baxter Gate, and a road closure was put in place while the fire service extinguished the blaze.
All persons have now been accounted for.
The fire has now been extinguished, with crews remaining to dampen down the blaze. Partners from Cadent are in attendance, and an investigation is ongoing, liaising with Leicestershire Police.
Leicestershire Police, said: "Following further enquiries, a 44-year-old man was arrested on suspicion of attempted arson with intent to endanger life.
"He remains in custody and an investigation is continuing."
Leicestershire Fire and Rescue Service say they expect Baxter Gate to be reopened to traffic later this morning, hopefully before 10 am.
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