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.
Man sentenced after Loughborough stabbing left victim seriously injured
Etihad Cargo to start flights to East Midlands Airport
Plea to parents to get children protected from measles
Zouch Bridge footage shows progress on £19.5m project
Leicestershire Rugby great retires after winning second world cup
Appeal for Witnesses or Dashcam following a fatal collision in Hathern
Plan to scrap our local councils could save £44m a year
'Largest' ever Loughborough Fair is in town next month
