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Nationwide STB valuation results way below what we've offered. What next?

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Had our valuation earlier this week. Just phoned Nationwide to find out the results and been told Countrywide have valued the house at £195,000. We offered £215,000.

As a bit of background, the property we're buying is being done up by a developer, who has redone the electrics, gas central heating and damp-proofed it all. However, every time we've viewed it, it's looked like a bomb site.

Last time was a month ago, and the kitchen and living room were still in a state of disrepair. We've been assured, since then that work has continued, so I'm wondering if the work hasn't been done and that's why the valuation has come in low.

Either way, what should our next step be? We're first time buyers and largely clueless.

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