I have used OBS, FRAPS and Nvidia shadowplay(if you have an nvidia card) with no issues. I know of another application dxtory that works well. 

Are you currently using something that is causing lag? OBS is free so you could try that first.

My son uses OBS to stream and record with no problems, and he's got a fairly modest computer.

Thanks guys.  I will try everything you have mentioned.  Cheers

Hi,

I won't be getting Windows 10 any time soon.  I have tried a few of the other softwares mentioned above and they are very promising.  Just need to tweak some settings and should be sorted.  Thanks again.