A recent claim has been made by van den Bosch et al . ( 2012 ) that the fast-rotator galaxy NGC 1277 hosts an over-massive black hole with a mass ( 1.7 10 ^ { 10 } \mbox { M } _ { \hbox { $ \odot$ } } ) larger than half its ( central ) stellar spheroid mass . We revisit this claim here by examining the predictions from simple dynamical realisations based on new Multi-Gaussian Expansion models of NGC 1277 , using the same inclination i = 75 \degr , and constant mass-to-light ratios . We present realisations which fit well the observed photometry taking into account an approximation for the extinction due to the central dust ring . The mass-to-light ratio M / L is fixed following scaling relations which predict a Salpeter-like IMF for such a luminous early-type fast rotator , 60 % higher than the one of the previously derived best fit model . A model without a black hole provides a surprisingly good fit of the observed kinematics outside the unresolved central region , but not , as expected , of the central dispersion and Gauss-Hermite h _ { 4 } values . A model with a black hole mass of 5 10 ^ { 9 } \mbox { M } _ { \hbox { $ \odot$ } } allows to fit the central dispersion profile , consistently with models of the same mass and M / L in van den Bosch et al . ( 2012 ) . It departs from the central h _ { 4 } values by only about twice the given uncertainty . A slightly varying M / L or the addition of high velocity stars in the central spatially unresolved region would further lower the need for a very massive black hole in the central region of NGC 1277 . These results do not , by themselves , rule out the presence of a presumed over-massive black hole at the centre of NGC 1277 . However , they lead us to advocate the use of three- \sigma ( as opposed to one- \sigma ) confidence intervals for derived M _ { BH } as better , more conservative , guidelines for such studies . We also caution for the use of ill-defined spheroidal components as an input for scaling relations , and emphasise the fact that a M _ { BH } in the range 2 - 5 10 ^ { 9 } \mbox { M } _ { \hbox { $ \odot$ } } would represent less than 5 % of the spheroid bulge-like mass of our models and less than 2.5 % of its total stellar mass . This would make the black hole in NGC 1277 consistent or just twice as large as what a recent version of the M _ { BH } - \sigma predicts , well within the observed scatter . We examine the impact of the presence of an inner bar by running simulations from the same MGE model but with extreme anisotropies . An inner small ( 600 pc diameter ) bar forms , and an end-on view does get closer to fitting the central dispersion profile ( and fits the h _ { 3 } amplitude ) without the need for a central dark mass , while adding a black hole of 2.5 10 ^ { 9 } \mbox { M } _ { \hbox { $ \odot$ } } , in line with the prediction from scaling relations , allows to fit the dispersion peak and h _ { 3 } profiles . Both models , however , still fail to fit the central h _ { 4 } value ( overpredicting the mean velocity ) . The claimed large mass of the presumed black hole therefore mostly relies on the measured positive high central h _ { 4 } ( at high dispersion ) , which can be associated with broad wings in the Line-Of-Sight-Velocity Distribution ( high velocity stars ) . This emphasises the need to go beyond medium resolution long-slit kinematics , with e.g. , high resolution integral-field spectroscopic data . In the specific case of NGC 1277 , molecular or ionised gas kinematics ( if present ) within the central arcsecond ( or at large scale ) may provide a strong discriminant between these various models . We finally briefly discuss the fact that NGC 1277 resembles a scaled-up version of e.g. , NGC 4342 , another nearly edge-on fast rotator with a potentially large ( but not over-massive ) black hole .