How deep is the hole ... 1/4 or so? I would imagine that you should be alright retapping. If you had done the coarse thread first then wanted the fine I would think that it might now work as well. Being the finer thread was first I would imagine the coarse 1.25 would still catch enough meat. I think you'll be ok.
Do you not have a M8 1.0 bolt to use or just want to keep it all M8 1.25 for consistency purposes?
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